China's August Manufacturing PMI Rebounds to 49.8% as Production and Orders Return Above 50
Updated
Updated · CGTN · Aug 30
China's August Manufacturing PMI Rebounds to 49.8% as Production and Orders Return Above 50
3 articles · Updated · CGTN · Aug 30
Summary
China's official manufacturing PMI rose 0.6 points to 49.8% in August, still below the 50 mark but beating July and signaling a milder contraction.
Production and demand drove the rebound: the production index climbed to 50.4%, new orders to 50.6%, and purchasing volumes to 50.5%, all back in expansion territory.
Equipment manufacturing and high-tech manufacturing stayed stronger at 51.4% and 52.9%, while large manufacturers returned to growth with a 50.6% reading.
Price pressures also picked up as crude oil and non-ferrous metal gains pushed the raw-material purchase price index to 56.6% and factory-gate prices to 50.4%.
Broader activity remained weak, with non-manufacturing at 49.0% and the composite output index at 49.5%, underscoring an uneven recovery as Beijing faces soft demand and a property slump.
With China's property crisis crushing household wealth, can its AI export boom truly save the economy from a prolonged structural collapse?
As Beijing's production-first model fuels intense price wars, will constrained local governments eventually be forced to abandon producers for consumer bailouts?