China reported sluggish factory activity in August, as fresh US tech curbs threatened to undermine Beijing’s push into advanced manufacturing.
The National Bureau of Statistics said on Sunday that the official manufacturing purchasing managers’ index (PMI) for August was 49.4, edging up from 49.3 in July.
The headline reading has remained below the 50-point mark that separates expansion from contraction since April, as strains persist in the industrial sector.
The non-manufacturing measure of activity in construction and services rose to 50.3 from 50.1 last month, according to the bureau.
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China GDP figures beat market forecasts despite looming US tariff risks
China GDP figures beat market forecasts despite looming US tariff risks
The data highlights the pressure on China’s manufacturing sector, which is weighed down by weak domestic demand, and an ongoing crackdown on cut-throat competition and overcapacity.