Official data: China’s manufacturing activities continue to decline in August

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.