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MNI BRIEF: China's Aug Manufacturing Contracts At 49.7

MNI (Singapore)
MNI (Beijing)

China's Purchasing Managers' Index contracted for the fifth straight month, registering 49.7 in Aug, rebounding slightly from 49.3 in July though still below the breakeven 50 mark, data from the National Bureau of Statistics showed Thursday.

The production and new orders sub-indices recorded 51.9% and 50.2%, up 1.7 and 0.7 pp from the previous month. Both figures hit a high point in the past five months. In particular, the new orders - a gauge of demand - rose to the expansion range above 50 for the first time since April.

Non-manufacturing PMI registered 51, falling from last month's 51.5. The business activity index in the service sector declined by 1 point to 50.5, while the construction sector rose by 2.6 points to 53.8, the NBS added.


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