China New Export Orders Drop Most Since March 2009, Operating Conditions Down 10th Consecutive Month; China’s Export Machine Grind to a Halt

by Mike Shedlock
MISH’S Global Economic Trend Analysis

The HSBC China Manufacturing PMI™ shows Manufacturing sector operating conditions worsened at the sharpest rate in 41 months.

Summary

August data signalled a renewed decline in Chinese manufacturing output, as new business decreased at the sharpest rate in nine months. Consequently, backlogs of work fell modestly, and job shedding was recorded for the sixth month in succession. On the price front, average input costs declined at the sharpest rate in 41 months, while the rate of output price discounting remained sharp.

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