China's manufacturing PMI edges down to 49.5 in August
The purchasing managers' index (PMI) for China's manufacturing sector dipped to 49.5 in August from 49.7 in July, the National Bureau of Statistics (NBS) said Saturday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
PMI for China's non-manufacturing sector came in at 53.8 in August, up from 53.7 in July, NBS data shows, indicating that the non-manufacturing industry maintained its overall expansion momentum, and the growth rate slightly accelerated.
The PMI of the high-tech manufacturing and consumer goods industries was 51.2 and 50.9 respectively, exceed the overall manufacturing industry by 1.7 and 1.4 percentage points.
Export orders fell in August, although at a slower pace, with the sub-index picked up to 47.2 from July's 46.9.
The data showed activity at medium and small-sized firms contracted, while large manufacturers managed to expand in August.
Adverse weather such as typhoons and heavy rains have occurred frequently recently, greatly disrupting road and air transportation, catering and tourism industries.
The expansion of the service industry slowed down. The service industry business activity index dropped 0.4 percentage points to 52.5 from the previous month but still landed in the expansion range.
Market sentiment remains optimistic, the service industry business activity expectation index stood at 59.8, up 0.7 percentage points from the previous month.
The official August composite PMI, which covers both manufacturing and services activity, dropped to 53.0 from July's 53.1.