An employee works on the production line of Nio electric vehicles at a JAC-NIO manufacturing plant in Hefei, Anhui province, China August 28, 2022.
China Daily via REUTERS/File Photo Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - China's factory activity likely contracted for a fifth straight month in August, a Reuters poll showed on Tuesday, as weak demand threatens recovery prospects in the world's second-largest economy and pressures officials to prop up growth.
An index reading above 50 indicates expansion in activity on a monthly basis while below that signals contraction.
"ASEAN, China's top trading partner, has also decreased to a nearly two-year low of 50.8."
The official manufacturing PMI, which largely focuses on big and state-owned firms, and its survey for the services sector, will be released on Thursday.
Persons:
Taimur Baig, Joe Cash, Anant Chandak, Susobhan Sarkar, Sam Holmes
Organizations:
REUTERS, Rights, Manufacturing, DBS, ASEAN, PMI, Thomson
Locations:
Hefei, Anhui province, China, Rights BEIJING, Bengaluru