China manufacturing PMI falls to 49.7 in August
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.