China: Caixin manufacturing PMI to decline in August to 49.7 – TD Securities

China’s manufacturing confidence among smaller and medium sized companies is likely holding up a little better than larger companies, with the former benefiting from more targeted easing as well government efforts to boost lending, according to TD Securities analysis team.

Key Quotes

“Such companies have not escaped the tariffs escalation and we expect this to be reflected in a decline in the Caixin manufacturing PMI in August to 49.7 from 49.9 in July.”