China’s manufacturing sector contracted for a fifth straight month in August, as slowing global demand for goods dragged on the country’s economy.
The official manufacturing purchasing managers’ index was 49.7 for the month, ahead of expectations of analysts polled by Reuters, but still below 50, indicating contraction.
The non-manufacturing PMI, which covers services and industries such as agriculture and construction, was 51, just below expectations.
China’s economy is contending with weak consumption, low factory output and a renewed liquidity crisis in the property sector.
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