Views: 1 Author: Site Editor Publish Time: 2019-09-11 Origin: Site
The purchasing managers' index (PMI) for China's manufacturing sector dipped to 49.5 in August from 49.7 in July, the National Bureau of Statistics (NBS) said Saturday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
A breakdown of the data showed manufacturing production maintained expansion, but market demand moderated amid a complex economic environment, NBS senior statistician Zhao Qinghe said.
The sub-index for production edged down 0.2 points to 51.9 in Aug, signaling continuous expansion but at a slower pace, while that for new orders was down by 0.1 point to 49.7. The new export order sub-index, however, rebounded by 0.3 points to 47.2.
Among the 21 industries surveyed, 17 were in the expansion zone, up from 12 in July, and 11 recorded month-on-month increases.
The reading also showed industrial upgrading continued apace, with high-tech manufacturing and consumption-related sectors maintaining rapid expansion, Zhao said.
Saturday's data also showed the China's composite PMI edged down 0.1 point to 53, which had remained in a range of 53-53.4 for five consecutive months and indicated steady business expansion.