Asian PMIs down

The only good news came from Indonesia, whose PMI improved from the previous month and stayed in expansion territory.

OCBC Treasury Research noted:

On the Asian front, the South Korean manufacturing PMI deteriorated from the previous month while Chinese PMIs were mixed (the CFLP PMI fell short of expectations but the HSBC PMI improved). The Jul PMI for Taiwan also deteriorated further into contraction territory while the PMI for India also fell but stayed in the expansion zone. Meanwhile, the PMI for Singapore also disappointed and fell into contraction territory although the PMI for Indonesia improved from the previous month and stayed in expansion territory.

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