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China’s manufacturing activities slip into contraction in August for first time since May 2020

China’s manufacturing activity slipped into contraction in August for the first time in since May 2020, as COVID-19 containment measures, supply bottlenecks and high raw material prices weighed on production, bolstering expectations of stepped-up stimulus from Beijing.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 49.2 last month, down from 50.3 in July, breaching the 50-mark that separates growth from contraction.

The index, which mostly track small . . .

 

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