China’s August PMI (Purchasing Manager’s Index) dropped slightly to 51.0 from July’s 51.1, according to the National Bureau of Statistics.
Heavy floods in Southern China have impacted manufacturing activity, said Zhao Qinghe, a senior statistician with the bureau in a statement.
Services saw faster growth, with the official non-manufacturing PMI in China hitting 55.2. The non-manufacturing PMI in July was 54.2.
Zhao noted in the report that demand was gradually recovering, with new orders for products such as pharmaceuticals and electrical machinery and equipment growing at a faster pace in August compared to July.
In addition, the bureau said that exports were also improving in general.
Caixin and IHS Markit will released another set of factory data tomorrow, which also covers the SMEs, unlike the country’s official PMI survey that polls large firms and state-owned enterprises.
