China's manufacturing PMI edges down in August
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E-mail Xinhua, August 31, 2020
The purchasing managers' index (PMI) for China's manufacturing sector decreased to 51 in August from 51.1 in July, the National Bureau of Statistics (NBS) said Monday.
A reading above 50 indicates expansion, while a reading below reflects contraction. It is the sixth month in a row that the figure remained in the expansion territory.
NBS senior statistician Zhao Qinghe said policies of balancing epidemic control and economic development yield notable fruit, and the economy keeps recovering with good prospects.
The sub-indices of the manufacturing PMI acted as evidence of further economic recovery.
The sub-index for production stood at 53.5 in August, with that for new orders at 52. The sub-index measuring new export orders gained 0.7 points to 49.1.
"The production and operation activities of Chinese enterprises have been continuing a sound momentum," Zhao said.
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