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China Manufacturing PMI Rises to 49.8 as Export Orders Improve
Several sub-indexes returned to expansion as stronger export demand lifted production, new orders and new export orders, Reuters reported.
- On Monday, August 31, China's official manufacturing PMI rose to 49.8 from 49.2 in July, according to the National Bureau, though factory activity remained in contraction for a second consecutive month.
- Economic growth slowed to 4.3% in the second quarter, the weakest pace since late 2022, as soft domestic demand and a prolonged property slump continue to weigh on activity.
- Monday's reading outperformed the 49.6 forecast from Reuters-polled economists, yet retail sales and industrial output both slowed in July, with industrial profit growth cooling to its weakest pace this year.
- Exports remain a key pillar propping up growth, recording double-digit increases for most of the year as a global boom in AI infrastructure spending lifts demand for Chinese-made tech goods.
- Chinese policymakers have pledged to roll out new measures, flagging room for further fiscal spending and monetary easing, though economists warn the scale of any upcoming support will likely be limited.
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China's manufacturing PMI rebounds in August
China's manufacturing purchasing managers' index (PMI) stood at 49.8% in August, up 0.6 percentage points from the previous month, according to data released by the NBS on Monday. The data points to a sequential improvement in economic activity.
·Beijing, China
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Coverage Details
Total News Sources59
Leaning Left13Leaning Right12Center6Last UpdatedBias Distribution42% Left
Bias Distribution
- 42% of the sources lean Left
42% Left
L 42%
C 19%
R 39%
Factuality
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