BEIJING, Aug. 31 (Xinhua) — China’s manufacturing sector saw an improvement in the business climate in August, with a leading indicator rising for the third consecutive month, official data showed Thursday.
Data released by the National Bureau of Statistics showed that the purchasing managers’ index for the manufacturing sector in China reached 49.7 in August, up from 49.3 in July. A reading above 50 indicates expansion, while a reading below reflects contraction.
Among the 21 industries surveyed, 12 reported expansion in August, up from 10 in the previous month, while there was an overall improvement in the manufacturing environment, said Zhao Qinghe, a statistician with the National Bureau of Statistics.
Thursday’s data also showed that the non-manufacturing PMI reached 51 in August, staying above the line between growth and contraction for the eighth consecutive month, indicating strong activities in the services and construction industries.
Zhao said that China’s composite PMI stood at 51.3 in August, indicating that overall output at enterprises in both the manufacturing and non-manufacturing sectors continued to expand.
2023-08-31 05:48:15
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