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Economic news

China’s August manufacturing activity falls for fourth month

08/30/2024

Less than a minute

2024.08.30 22:01

© Reuters. FILE PHOTO: An employee works on the production line of Nio electric vehicles at a JAC-NIO manufacturing plant in Hefei, Anhui province, China August 28, 2022. China Daily via REUTERS/File Photo

BEIJING (Reuters) – China’s manufacturing activity in August shrank for a fourth straight month, an official factory survey showed on Saturday, raising expectations the government will direct more stimulus to households and less to infrastructure projects.

The official purchasing managers’ index (PMI) fell to 49.1 in August from 49.4 in July, below the 50-mark separating growth from contraction and missing a median forecast of 49.5 in a Reuters poll.

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08/30/2024

Less than a minute