LINE

Text:AAAPrint
Economy

China's Caixin manufacturing PMI drops in August

1
2018-09-03 13:07:36CGTN Editor : Gu Liping ECNS App Download

China's manufacturing activity maintained a slower expansion in August, revealed by a private survey on Monday.

The Caixin China General Manufacturing Purchase Managers' Index (PMI) stood at 50.6 for August, hitting a 14-month low, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.

The findings were lower than the official gauge of 51.3 released last Friday.

The output of China's manufacturing industry continued to expand, but new orders signaled the slowest growth since May 2017. The slowdown is partly due to weaker external demand with export sales falling for five consecutive months. 

Meanwhile, employment was shrinking amid rising workloads and inflationary pressure. Input costs and output prices all showed a significant increase, according to the survey.

"The manufacturing sector showed a weaker demand, but the output remained flourishing. In this case, steady production can hardly sustain amid lackluster demand, said Zhengsheng Zhong, director of Macroeconomic Analysis at CEBM Group, "The unfavorable employment could also post threats to consumption growth under the background of downward pressure facing China's economy." 

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.