Official PMI for August. Manufacturing 49.5 (exp 49.6), Services 53.8 (exp 53.7)

Manufacturing 49.5

• expected 49.6, before 49.7
• in contraction for the fourth consecutive month
• trade wars and slowdown in domestic demand
• Xinhua (state media in China) reports NBS, saying "demand would be moderate in a complex economic environment"

Services 53.8

• expected 53.7, before 53.7
• first improvement over the last five months and in contradiction with domestic demand pressures reflected in the manufacturing PMI

Composite 53.0

So, a little mixture here. Services resist.