Chinese manufacturing declines in August
BEIJING, Sept 01 (AP/UNB) - Chinese manufacturing activity slid to a nine-month low in August, stepping up pressure on Beijing to revive growth in the world's second-largest economy.
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The state-affiliated China Federation of Logistics and Purchasing said Saturday that its purchasing managers' index, or PMI, fell 0.9 point to 49.2 in August and below the 50 level signifying expansion.
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The PMI indexes measure overall manufacturing activity by surveying numerous indicators, including orders, employment and actual production.
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The federation said in its report that the August index indicates "the economy is sliding but is bottoming out, considering the changes in major sub-indexes."
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China's economic growth fell to a three-year low of 7.6 percent in the second quarter, relatively robust when compared with the U.S. and Europe but low for China after years of double-digit growth.
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The state-affiliated China Federation of Logistics and Purchasing said Saturday that its purchasing managers' index, or PMI, fell 0.9 point to 49.2 in August and below the 50 level signifying expansion.
Â
The PMI indexes measure overall manufacturing activity by surveying numerous indicators, including orders, employment and actual production.
Â
The federation said in its report that the August index indicates "the economy is sliding but is bottoming out, considering the changes in major sub-indexes."
Â
China's economic growth fell to a three-year low of 7.6 percent in the second quarter, relatively robust when compared with the U.S. and Europe but low for China after years of double-digit growth.
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