China man­u­fac­tur­ing PMI falls to 49.7 in Au­gust

China Daily (Canada) - - NEWS CAPSULE -

China’s fac­tory ac­tiv­ity con­tin­ued to lose steam in Au­gust, sug­gest­ing the world’s sec­ond­largest econ­omy faces pro­longed down­ward pres­sure, of­fi­cial data showed.

China’s man­u­fac­tur­ing pur­chas­ing man­agers’ in­dex (PMI) came in at 49.7 in Au­gust, down from 50 for July, ac­cord­ing to data re­leased by the Na­tional Bureau of Sta­tis­tics (NBS) andthe China Fed­er­a­tion of Lo­gis­tics and Pur­chas­ing. A read­ing above 50 in­di­cates ex­pan­sion, while that be­low 50 rep­re­sents con­trac­tion.

The in­dex fell into con­trac­tion ter­ri­tory for the third time this year, and the Au­gust read­ing was the low­est since Au­gust 2012.

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