China's official PMI 49.2 in August vs. 50.1 in July and consensus of 50. It's the first time...

|By:, SA News Editor

China's official PMI 49.2 in August vs. 50.1 in July and consensus of 50. It's the first time since November that the gauge has fallen below 50 and indicated contraction. "It shows the economy is moving downward," says the China Federation of Logistics & Purchasing, which produces the figures, "but is bottoming out considering changes in the major subindexes."