China’s Economic Recovery Continues on Strong Services
Non-manufacturing PMI clocks in at highest since January 2018
Manufacturing PMI slips slightly to 51 although new orders up
Chinese economic activity continued to rebound in August, with a gauge of the services industry at the strongest level since early 2018 while the expansion in manufacturing activity slowed slightly.
The non-manufacturing gauge rose to 55.2 from July’s 54.2, the National Bureau of Statistics said Monday. The official manufacturing purchasing managers’ index moderated to 51 from 51.1 a month earlier. A reading above 50 indicates conditions improved from a month earlier.