3 Sept 2018
Guangdong Manufacturing PMI (2018/08)
Guangdong Manufacturing PMI dropped below 50 in August 2018, down by 0.9 from July 2018. It is the first time since March 2016 that the index dropped into the contractionary zone. The sub-index for new orders dropped by 1.7 to 48.7. The sub-index for new export orders also declined marginally to 49.7 from 49.9, the third consecutive months to stay below 50. The sub-indices for major industry sectors that were still in the expansionary zone included electronics, food & beverages and pharmaceutical.
Note: The Guangdong manufacturing PMI is a composite index based on the diffusion indexes for the five major components: output, new orders, raw material inventories, employment, supplier delivery times. A PMI reading above 50 indicates that the manufacturing economy is generally expanding; below 50 indicates that it is generally declining.