Economy: China's industry recovers slightly in August – but remains on a downward trend
China's economy shows only a slight recovery and contracts for the second month in a row. Both the industrial and service sectors remained below the growth threshold.
China's industrial activity improved slightly in August but still contracted for the second consecutive month. The official manufacturing Purchasing Managers' Index (PMI) rose to 49.8 points from 49.2 points in July, according to the National Bureau of Statistics. The index remained below the 50-point mark that separates growth from contraction, although it exceeded the 49.6 points predicted by analysts in a Reuters survey.
The services sector PMI remained steady at 49.0 points in August. The composite index for both sectors was 49.5 points.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
