China’s manufacturing sector witnessed an improved enterprise local weather in August as a key indicator went up for a 3rd straight month, official information confirmed Thursday.
The buying managers’ index (PMI) for China’s manufacturing sector got here in at 49.7 in August, up from 49.3 in July, in accordance with the Nationwide Bureau of Statistics (NBS). A studying above 50 signifies growth, whereas a studying beneath 50 displays contraction.
Among the many 21 surveyed industries, 12 reported growth in August, up from 10 a month earlier. There was an general enchancment within the manufacturing local weather, NBS statistician Zhao Qinghe mentioned.
Thursday’s information additionally revealed that non-manufacturing PMI — 51 in August — had stood nicely above the boom-or-bust line for eight consecutive months, which indicated sturdy actions within the service and development industries.
China’s composite PMI stood at 51.3 in August, signaling that general manufacturing at manufacturing and non-manufacturing enterprises continued to develop, Zhao mentioned.