China's August Factory PMI Rises to 49.8 as New Orders Return Above 50
Updated
Updated · South China Morning Post · Aug 31
China's August Factory PMI Rises to 49.8 as New Orders Return Above 50
3 articles · Updated · South China Morning Post · Aug 31
Summary
China's official manufacturing PMI rose to 49.8 in August from 49.2 in July, improving more than expected but still signaling contraction.
New orders climbed to 50.6 from 48.5 and new export orders edged up to 50.1 from 49.6, indicating demand and external sales both moved back into expansion.
Production and demand expanded together, the National Bureau of Statistics said, with hi-tech manufacturing and large firms leading gains and 16 of 21 surveyed industries improving from July.
ING said the reading was slightly stronger than market expectations and could point to a modest rebound in August industrial production when that data is released in coming weeks.
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