China's Caixin PMI offers silver lining from

© Reuters. China's economy is still under pressure, but some mixed data on Monday morning gives a glimmer of hope.

(PMI) released Monday morning, registered an increase to 50.4 in August (with a number over 50 signal expansion) up from 49.9 in July.

However, the official released by the National Bureau of Statistics (NBS) suggested a gloomy view. NBS said that the official PMI for August came in at 49.5, down from 49.7 in July.

With a more positive comment, the services seem to be doing better. T he official rose for the first time in five months to 53.8 in August from 53.7 in July.

"China's economy showed signs of short-term improvement, but downward pressure remains a long-standing problem," Zhong Zhengsheng director of macroeconomic analysis with CEBM Group , told Caixin, a Mainland China publication.

The Caixin index suggested that production output expanded in August but growth is still below historical averages.

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