China's Services PMI marginally up in August

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Monday, Sep 05 2016

The headline Caixin China General Services PMI for August came in at 52.1, up 0.4 points from the previous month. The indexes for employment and business expectations improved markedly over July’s readings, while the others did not change much.

The Caixin China Composite Output Index for August was 51.8, down 0.1 points from the reading for July, but remained steady at a relatively high level. Overall, the economy continued to expand in August at a pace similar to the growth rate for July, but conditions in manufacturing and service sectors diverged again. Downward pressure on China’s economy remains and supportive policies must continue.

Aussie is currently being traded around 0.7580 area. Pair is likely to find support around 0.7550 and resistance above 0.76 handle.

More in this category: « Australian Company Operating Profits rose 6.9% Growth in Spanish services business activity picks up »

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