Manufacturing activity in China rose to 49.3 from 49.0 in July, but remained below the 50-point line that separates growth from contraction.
China’s manufacturing activity remained in contraction territory for the fourth month in a row, with the official purchasing managers manufacturing index (PMI) coming in at 49.3, compared to 49.2 that economists had expected, according to data released by China’s National Bureau of Statistics (NBS).
PMI stood at 49.0 in June.
Manufacturing activity in China fell for the fourth consecutive month in July, albeit at a slower pace than the previous month, reinforcing the need for more policy support to stimulate domestic demand.
Non-manufacturing PMI in July was 51.3 compared to 53.2 in June.