National Bureau of Statistics: High-tech manufacturing and equipment manufacturing industries are back in the expansion zone.

On August 31st, Zhao Qinghe, a senior statistician at the National Bureau of Statistics Service Industry Survey Center, stated that due to factors such as recent high temperatures and heavy rainfall, as well as the off-peak production season in some industries, the manufacturing Purchasing Managers' Index (PMI) in August dropped to 49.1%, indicating a slight decline in economic activity. Both production and demand have slowed down, with the production index and new order index at 49.8% and 48.9% respectively, down 0.3 and 0.4 percentage points from the previous month. High-tech manufacturing and equipment manufacturing have returned to the expansion range. In key industries, the PMI for high-tech manufacturing and equipment manufacturing increased by 2.3 and 1.7 percentage points respectively, returning to the expansion range. The PMI for consumer goods industries stood at 50.0%, at the critical point, while the PMI for high-energy industries dropped to 46.4%, a decrease of 2.2 percentage points from the previous month, indicating a weak and significant decline in the economic level of high-energy industries, one of the main reasons for the decline in the manufacturing PMI this month. The full text is as follows China's economic activity remained stable in August, with high-tech manufacturing returning to the expansion range Zhao Qinghe, a senior statistician at the National Bureau of Statistics Service Industry Survey Center, interprets China's Purchasing Managers' Index for August 2024 On August 31, 2024, the National Bureau of Statistics Service Industry Survey Center and the China Federation of Logistics & Purchasing released China's Purchasing Managers' Index. Zhao Qinghe, a senior statistician at the National Bureau of Statistics Service Industry Survey Center, interpreted the data. In August, the Purchasing Managers' Index for manufacturing was 49.1%, down 0.3 percentage points from the previous month; the business activity index for non-manufacturing was 50.3%, up 0.1 percentage points from the previous month; and the Composite PMI output index was 50.1%, slightly down by 0.1 percentage points from the previous month, indicating that China's economic activity remained stable overall. I....