China’s manufacturing PMI edges down to 50.1
The Purchasing Managers’ Index (PMI) for China’s manufacturing sector came in at 50.1 in August, but is still in the expansion zone, data from the National Bureau of Statistics (NBS) showed on Tuesday. A reading above 50 indicates expansion, while a reading below reflects contraction. Zhao Qinghe, a senior NBS statistician said on Tuesday that […]
The Purchasing Managers’ Index (PMI) for China’s manufacturing sector came in at 50.1 in August, but is still in the expansion zone, data from the National Bureau of Statistics (NBS) showed on Tuesday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
Zhao Qinghe, a senior NBS statistician said on Tuesday that the PMI reading edged down from 50.4 recorded in July, due to factors such as COVID-19 and the flood situation in recent days.
The sub-index for production stood at 50.9 in August, down 0.1 percentage points from a month earlier, indicating the stable expansion of production in the manufacturing sector.
According to the data, during the period market demand has weakened, with the sub-index for new orders down 1.3 percentage points from the previous month to 49.6.
Tuesday’s data also showed that the PMI for China’s non-manufacturing sector came in at 47.5 in August, down from 53.3 in July.
