China August official PMI falls to 49.7, in line with expectations

China's official manufacturing purchasing managers' index edged down to 49.7 in August from 50 in July, just below the 50- mark that separates expansion from contraction. "If momentum does not pick up soon, it is very likely that China will not meet its growth target of 7 percent this year," ANZ wrote in a note on Monday.. This reflects extreme equity market volatility...