China Manufacturing PMI Surges Amid Fed Warning on Inflation

China's manufacturing sector saw a two-month high in August as measured by the Manufacturing PMI, which rose to 51.5.

The growth rate of new export orders hit a six-month high, while factory-gate prices declined for the first time this year.

In related news, Federal Reserve Governor Michael Barr stated that decisive action to raise interest rates is warranted if inflation does not sufficiently ease.

Barr noted that current US inflation levels remain too high and indicated his readiness to support a rate hike if inflation fails to subside.