9/1, 3:48 AM (Source: TeleTrader)
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China's factory activity deteriorates slightly in August

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) came in at 49.2 in August, according to the latest report released by the IHS Markit on Wednesday.

The manufacturing activity expanded at a softer rate than it did in July with this month's number 1.1 lower than the previous reading, dropping below the neutral 50 with the global demand and disruption continuing to weigh on the sector's performance.

"The latest Covid-19 resurgence has posed a severe challenge to the economic normalization that began in the second quarter of last year," Senior Economist at Caixin Insight Group Dr. Wang Zhe said about the data. "Authorities need to take a holistic view and balance containing Covid-19, stabilizing the job market, and maintaining stability in supply and prices."

Baha Breaking the News (BBN) / NL