Factory activity in China slowed down in August as export demand weakened, according to a survey. The monthly purchasing managers' index (PMI) of the National Bureau of Statistics and the China Federation of Logistics & Purchasing declined to 50.1 in August from July's 50.4 on a scale of 100 on which numbers above 50 show rising activity.
A sub-measure of new exports fell by a full point to 46.7 in August from the previous month.Factory activity in China slowed down in August as export demand weakened, according to a survey. The monthly purchasing managers' index (PMI) of the National Bureau of Statistics and the China Federation of Logistics & Purchasing declined to 50.1 in August from July's 50.4 on a scale of 100 on which numbers above 50 show rising activity. #
In a report on the latest manufacturing figures, researchers at the Chinese investment bank CICC said they expected “the slowdown in demand will continue," a global newswire reported.
Government officials warned demand for Chinese exports is likely to weaken in the second half of the year as factory and consumer activity dampened due to flooding in July and tighter anti-coronavirus controls, the news agency added.
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