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China's manufacturing activity rose to 49.8% in August as production and new orders returned to expansion territory

China's manufacturing purchasing managers' index (PMI) reached 49.8% in August, an increase of 0.6 percentage points from July. While the index remains in contractionary territory, the manufacturing activity improved due to stronger production and demand. National Bureau of Statistics data shows that the production index rose to 50.4% and the new orders index climbed to 50.6%. Both sub-indexes returned to expansion territory. Additionally, the purchasing volume index increased by 1.1 percentage points to 50.5%. High-tech manufacturing and equipment manufacturing sectors showed continued strength, with indices at 52.9% and 51.4% respectively. These sectors remain in expansion territory, indicating an ongoing optimization of China's manufacturing structure. The ex-factory price index for manufacturing stood at 50.4%, an increase of 2.6 percentage points from the previous month. This rise was influenced by upward movements in crude oil and non-ferrous metal prices. The non-manufacturing business activity index remained unchanged at 49.0% in August.

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