Hong Kong CNN —Factory activity in China contracted for a fifth straight month in August, adding pressure on Beijing to roll out more stimulus measures to bolster the faltering economy.
It was the third straight month that the index had improved from the previous month, and was better than economists were expecting.
The non-manufacturing PMI, which measures business activity in services and construction, stood at 51 this month, down from 51.5 in July, according to the NBS.
“The PMI surveys suggest a slight improvement in economic activity in August,” wrote analysts from Capital Economics.
Some of these moves may have started to bear fruit this month, analysts said.
Persons:
”, Si Wei, Robert Carnell
Organizations:
Hong Kong CNN — Factory, government’s National Bureau of Statistics, PMI, NBS, Capital Economics, ING Group, Capital
Locations:
Hong Kong, China, Beijing, —, Lianyungang, Jiangsu province, Asia, Pacific