China Manufacturing PMI (August 2025) 49.4 (expected 49.5) Services 50.3 (expected 50.3) | investingLive

These Chinese PMIs come from the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

For August 2025:

Manufacturing PMI 49.4, a slight miss

• expected 49.5, prior 49.3
• this is the fifth consecutive month in contraction for the official manufacturing PMI
• domestic demand remains disappointing, weighed down by factors such as
  • the heavily indebted property sector and falling or, at best, flat prices for homes
  • US tariffs hitting exports
  • local government debt
  • recent extreme weather/flooding

Non-Manufacturing (includes services and construction) PMI 50.3, in line with central estimates and a jump from July

• expected 50.3, prior 50.1

Composite 50.5

• prior 50.2

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Over the next few days we’ll get the ‘unofficial’ Caixin/S&P manufacturing (on Monday September 1) and non-manufacturing (on Wednesday September 3) PMIs for August.

more to come

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Earlier big news:

The legal fight is not over (see the post) but perhaps China will just wait it out on tariffs.