China Aug manufacturing PMI rises to 49.8%, Pagoda Innovation says

• Beijing Pagoda Innovation Management published a weekly macro wrap dated Sept. 6 that flagged a stabilization in China’s factory activity, with the August manufacturing PMI rising to 49.8%.
• The report highlighted a rebound in demand, with the new orders index at 50.6% and new export orders at 50.1%.
• It pointed to a return to expansion in output, with the production index at 50.4% and the purchasing volume index at 50.5%.
• The note also cited resilience in higher-end manufacturing, with equipment manufacturing PMI at 51.4% and high-tech manufacturing PMI at 52.9%.

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