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Official data: China’s manufacturing activities continue to decline in AugustOfficial data: China’s manufacturing activities continue to decline in August |
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The Chinese National Bureau of Statistics has released the official Purchasing Manager’s Index (PMI) for the month of August 2021, which fell 0.3 percentage points from July to 50.1 – marking the fifth consecutive month of declined growth rate.
Industry experts said that the slower manufacturing outputs are a result of the recent domestic Covid-19 outbreak, weaker exports, hiking raw material costs, and ‘tighter measures to tame hot property prices and a campaign to reduce carbon emissions.’
New export orders fell for the fourth month to 46.7 points.
Non-manufacturing Index nosedived to 47.5 in August, from 53.3 in the previous month.
Country
China
