China Factory Activity Improves in August Following Surge in Export Orders

Economy

China's manufacturing sector demonstrated signs of improvement in August, driven by a noticeable recovery in export demand for high-technology goods and green energy equipment. Official data from the National Bureau of Statistics showed the purchasing managers' index rose to 49.8 from 49.2 in July, narrowly missing the expansion mark but beating analyst expectations. Simultaneously, a private survey by S&P Global pointed to expanding factory output, with its gauge rising to 51.5. Economists noted that while overseas deliveries provided a crucial lift to industrial production, softer domestic consumption and external trade pressures remain notable headwinds for broader economic expansion.