Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

China August factory activity shrinks for fourth month - official PMI

China August factory activity shrinks for fourth month - official PMI
FILE PHOTO: Workers direct a crane lifting ductile iron pipes for export at a port in Lianyungang, Jiangsu province, China June 30, 2019. REUTERS/Stringer -
Copyright
China Stringer Network(Reuters)
Euronews logo
Text size Aa Aa

BEIJING (Reuters) – Factory activity in China shrank in August for the fourth month in a row, official data showed on Saturday, as the United States ramped up tariff pressure and domestic demand remained sluggish.

The Purchasing Managers’ Index (PMI) fell to 49.5 in August, China’s National Bureau of Statistics said, versus 49.7 in July, below the 50-point mark that separates growth from contraction on a monthly basis.

Analysts polled by Reuters had expected the August headline reading would be unchanged from the previous month.

Further signs of contraction in China’s factory activity suggest the world’s second-biggest economy is continuing to lose momentum, heightening fears of a global recession.

(This story orrects headline month to August, not July)

(Reporting by Roxanne Liu and Dominique Patton; Editing by Clarence Fernandez)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.