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China’s manufacturing PMI dips in August

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Via China Daily

An employee checks gear products at a machinery company in Yantai, Shandong province. [Photo provided to China Daily]

BEIJING – The purchasing managers’ index (PMI) for China’s manufacturing sector dipped to 49.5 in August from 49.7 in July, the National Bureau of Statistics (NBS) said Saturday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

A breakdown of the data showed manufacturing production maintained expansion, but market demand moderated amid a complex economic environment, NBS senior statistician Zhao Qinghe said.

The sub-index for production edged down 0.2 points to 51.9 in Aug, signaling continuous expansion but at a slower pace, while that for new orders was down by 0.1 point to 49.7. The new export order sub-index, however, rebounded by 0.3 points to 47.2.

Among the 21 industries surveyed, 17 were in the expansion zone, up from 12 in July, and 11 recorded month-on-month increases.

The reading also showed industrial upgrading continued apace, with high-tech manufacturing and consumption-related sectors maintaining rapid expansion, Zhao said.

Saturday’s data also showed the China’s composite PMI edged down 0.1 point to 53, which had remained in a range of 53-53.4 for five consecutive months and indicated steady business expansion.


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