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China's manufacturing contracts for fourth month in a row

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Η μεταποΙηση &sigma ;τνασιννι ττ&rho ;το συχoμε μorνα /></p> <p> China's manufacturing sector shrank for a fourth straight month in August, official data showed on Saturday, a worse-than-expected result that reflects the big battle being waged by the second world's largest economy to recover.</p> <p> China faces a crisis in its massive real estate sector, as well as a lack of confidence among households and businesses, which is hurting consumption, while geopolitical tensions with Washington and the European Union are threatening its foreign trade.</p> <p> In August, the Purchasing Managers' Index (PMI) — a key barometer of industrial production — came in at 49.1, the Office for National Statistics said ( NBS).</p> <p> The result is a bigger drop for the index than in July (49.4 points), which is partly based on companies' order books.</p> <p> Over 50 the index indicates growth in manufacturing activity, while below that means the sector is contracting.</p> <p> Analysts polled by Bloomberg had expected a decline in August – but a softer one, at 49.5 points.< /p> </p> <p> The non-manufacturing PMI, which includes services, was in positive territory in August at 50.3 points, compared to 50.2 the previous month.</p> <p> Source: CPI&nbsp ?</p> <p><noindex></p> <div class=Source: www.sigmalive.com

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