China PMI – The Commerce Africa https://thecommerceafrica.com African Reneissance Mon, 07 Sep 2020 06:58:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 China’s Trade Surplus Widened Despite U.S. Sanctions https://thecommerceafrica.com/chinas-trade-surplus-widened-despite-u-s-sanctions/ https://thecommerceafrica.com/chinas-trade-surplus-widened-despite-u-s-sanctions/#respond Mon, 07 Sep 2020 06:58:41 +0000 http://thecommerceafrica.com/?p=1848 China’s trade surplus widened sharply to USD 58.93 billion in August 2020 from USD 34.72 billion in the same month the previous year and far above market expectations of USD 50.5 billion.

Exports rose by 9.5 percent, the fastest pace since March last year, while imports unexpectedly fell by 2.1 percent.

The country’s trade surplus with the United States widened to USD 34.24 billion in August from USD 32.46 billion in July.

Meanwhile, Washington and Beijing both nations reaffirming their commitment to a phase1 trade deal.
Trading Economics

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China Manufacturing Growth at 6-month High Despite Crisis https://thecommerceafrica.com/china-manufacturing-growth-at-6-month-high-despite-crisis/ https://thecommerceafrica.com/china-manufacturing-growth-at-6-month-high-despite-crisis/#respond Wed, 01 Jul 2020 08:06:11 +0000 http://thecommerceafrica.com/?p=789 The Caixin China General Manufacturing PMI unexpectedly rose to 51.2 in June 2020 from 50.7 in the previous month and beating market consensus of 50.5.

This was the highest reading since December last year, supported by the recent easing of COVID-19 measures. Output grew further on the back of a renewed increase in new orders. Also, buying levels rose the most since January 2018.

Meantime, export work continued to fall due to weak global demand. Also, employment dropped for six straight months, while outstanding business rose again. At the same time, vendor performance deteriorated slightly as travel restrictions continued to impact logistics. On the price front, input prices increased for the first time in four months.

However, selling prices rose slightly as overall pricing power was restricted due to tough market competition. Finally, sentiment hit its highest since February.

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