A worker wearing a face mask works on a production line manufacturing glassware products at a factory in Haian, Jiangsu province, China February 29, 2020.
The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 51.0 in August from 49.2 in July, beating analysts' forecasts of 49.3 and marking the highest reading since February.
The data, a snapshot of the sprawling manufacturing economy, surprised to the upside but offered a mixed picture of the sector, a day after an official survey showed manufacturing activity contracted for a fifth straight month.
The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China.
Manufacturers reported increases in both output and total order intakes thanks to firmer market demand, the Caixin survey showed.
Persons:
Wang Zhe, Wang, Ellen Zhang, Ryan Woo, Sam Holmes
Organizations:
REUTERS, Rights, P Global, Analysts, Manufacturers, Caixin Insight, Thomson
Locations:
Haian, Jiangsu province, China, Rights BEIJING