China's manufacturing purchasing managers' index (PMI) climbed to 49.8 in August, a rise of 0.6 percentage points from July, according to official data released Monday in Beijing. A reading above 50 signals expansion, while a figure below 50 indicates contraction.
Chief statistician Huo Lihui of the National Bureau of Statistics said the overall business climate improved, noting that of the 21 industries surveyed, 16 reported a higher PMI than the previous month.
Output and market demand both expanded. The production sub-index increased to 50.4, up 0.5 points, and the new orders index rose to 50.6, up 2.1 points from July. Enterprises' willingness to purchase also strengthened, with the procurement volume index reaching 50.5, up 1.1 points. Huo added that the momentum of new growth drivers continued to improve in August.
The equipment manufacturing industry PMI stood at 51.4 and the high‑tech manufacturing industry at 52.9, both remaining in the expansion zone.
Affected by recent upward movements in crude oil and non‑ferrous metal prices, the purchasing price index for major raw materials was 56.6, up 3.4 points, and the ex‑factory price index for manufacturing was 50.4, up 2.6 points. The PMI for large manufacturing enterprises was 50.6, up 1.1 points and back in the expansion zone.
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