China’s factory activity remained in contraction in August, construction and service activities expanded at slower pace
DATA MACRO
China’s factory activity remained in contraction in August, construction and service activities expanded at slower pace
DATA MACRO

China’s factory activity remained in contraction in August, construction and service activities expanded at slower pace

 

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China’s factory activities remained in contraction in August, with the official manufacturing PMI at 49.4, compared to 49 in the previous month, according to the National Bureau of Statistics. That’s compared to market expected 49.2.

The sub-index for production was 49.8 in August, in line with the previous month, while the sub-index for new orders grew by 0.7 percentage point to 49.2, both remaining in the contractionary territory, showed the data.

The sub-index for raw material inventories stood at 48, rising slightly by 0.1 percentage from the previous month. The sub-index for employment was 48.9, picking up by 0.3 percentage point from the month before. The gauge for suppliers’ delivery time was 49.5, down by 0.6 percentage points from July, pointing for slower material delivery to manufacturers.

Official non-manufacturing activity remained in expansion, but grew at a slower pace. The non-manufacturing PMI for August comes in at 52.6, compared to 53.8 in the previous month, according to the NBS. That’s compared to market expected 52.3.

In breakdown, the PMI for the construction activities stood at 56.5 in August, sliding by 2.7 percentage points from the month before, while the PMI for services activities stood at 51.9, falling by 0.9 percentage points from July, showed the data.

The composite PMI, which tracks both manufacturing and non-manufacturing sectors, comes in at 51.7 in August, down from 52.5 in the previous month, indicating that China’s oveall production and business activities extended a recovering trend, but the expansion slowed in August, said the NBS.