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The official gauge of China’s manufacturing activity edged up in August but remained in contraction for the fifth straight month, pointing to continued weakness in the world’s second-largest economy.
China’s official manufacturing purchasing managers’ index rose to 49.7 in August from 49.3 in July, the National Bureau of Statistics said Thursday. A reading above 50 indicates an expansion in activity while a reading below that level indicates a contraction.
The result was above the forecast of 49.1 by a Wall Street Journal poll of economists.
China’s nonmanufacturing PMI, which covers both service sector and construction activity, fell to 51.0 in August from 51.5 in July, the statistics bureau said.
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