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China’s Purchasing Managers’ Index Falls to 50.1 in August

Factory activity decelerated this past month as export demand weakened.
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The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Our teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. We provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.

Video source: YouTube, Singapore Chamber of Commerce and Industry

China’s factory activity decelerated in August as export demand weakened, a survey showed Tuesday.

The monthly purchasing managers’ index of the Chinese statistics bureau and an official industry group declined to 50.1 from July’s 50.4 on a 100-point scale on which numbers above 50 show activity increasing.

A sub-measure of new exports fell by a full point from the previous month to 46.7, according to the National Bureau of Statistics and the China Federation of Logistics & Purchasing.

Officials have warned demand for Chinese exports was likely to weaken in the second half of the year. Factory and consumer activity have been dampened by flooding in July and tighter anti-coronavirus controls.

In a report on the latest manufacturing figures, researchers at the Chinese investment bank CICC said they expected “the slowdown in demand will continue.”

“Overall the manufacturing industry will show a steady slowdown,” it added.

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Source: AP NewsSingapore Chamber of Commerce and Industry

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