China on Monday announced that manufacturing activity expanded in the month of August as the country continued to recover from the coronavirus pandemic.
The official manufacturing Purchasing Manager’s Index (PMI) for the month of August came in at 51.0 as compared to 51.1 in July, according to the National Bureau of Statistics.
However, the pace of expansion missed expectations. Analysts polled by Reuters had expected August PMI to come in at 51.2.
PMI readings above 50 indicate expansion, while those below that signal contraction. PMI readings are sequential and indicate on-month expansion or contraction.
Heavy floods in south China have also impacted manufacturing activity, Zhao…