The FINANCIAL — China’s official manufacturing purchasing managers index fell to 49.7 in August from 50.0 a month ago, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, said in a statement on September 1, according to Nasdaq.
The August PMI fell short of the median 49.8 forecast from a Wall Street Journal poll of 10 economists.
A PMI reading above 50 indicates an expansion in manufacturing activity, while a reading below points to a contraction.
The subindex measuring new orders dropped to 49.7 from 49.9 in July, while the production subindex improved/ decreased to 51.7 from 52.4, the statement said.
The preliminary Caixin China manufacturing PMI, a competing gauge of nationwide manufacturing activity, declined to 47.1 in August, its lowest level in 77 months. The final August reading for the Caixin PMI is due at 0145 GMT September 1.
China’s official nonmanufacturing PMI, also released on September 1, fell to 53.4 from 53.9 in July.