Manufacturing industry Slump in China's industrial companies continues
Sentiment among Chinese industrial companies has deteriorated further. The Purchasing Managers' Index (PMI) for the manufacturing sector in China fell from 49.4 points in the previous month to 49.1 points in August, according to the Chinese National Bureau of Statistics in Beijing.
31.08.2024, 05:22
SDA
This means that the leading indicator, which is important for decision-makers and investors, has fallen for the fourth month in a row. In addition, the value has now been below the 50-point mark, above which industrial activity is assumed to expand, for four months. Values below the threshold, on the other hand, indicate a decline in economic performance.
In the non-manufacturing sector, which includes the service sector and the construction industry, sentiment has brightened slightly by 0.1 points compared to the previous month and currently stands at 50.3 points.
China's economy has never fully recovered since the coronavirus pandemic. The biggest problems include a real estate crisis that has been going on for years, weak domestic consumption and high youth unemployment.
