中国经济 - PMIs揭示 “反内卷” 对中国经济的更多影响China_Economics_PMIs_Reveal_More_Impact_from_Anti-Involution-China_Economics

31 Aug 2025 11:15:37 ET │ 10 pages China Economics PMIs Reveal More Impact from Anti-Involution CITI'S TAKE Manufacturing PMI stopped its decline in August, and non-manufacturing PMI expanded on stronger services. The data continued to show the impact from Supply-Side Reform 2.0, with price indices rising obviously. A continued easing of industrial deflation could be what the markets are looking for. In the meantime, we think that with continued headline PMI contraction, the economy still needs more policy ...