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Financial News: China Manufacturing Sector Swings To Expansion - Caixin

China Manufacturing Sector Swings To Expansion - Caixin

09/01/2024 - 21:48:00 (RTTNews)

(RTTNews) - The manufacturing sector climbed up into expansion territory in August, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 50.4.

That's up from 49.8 in July and it moves back above the boom-pr-bust line of 50 that separates expansion from contraction.

Manufacturing production expanded for a tenth successive month in August, led by firms in the consumer and intermediate goods sectors. Although modest, the rate of growth accelerated from July's low as incoming new orders returned to expansion.

Survey respondents revealed that better underlying demand conditions and promotional efforts underpinned the latest rise in new orders. Export orders were subdued, however, falling marginally for the first time in the year-to-date amid reports of deteriorating external conditions.

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