industrial activity slows down in August, that of services contracts

PKIN (Reuters) – China’s industrial activity grew at a slower pace in August, and that of the services sector contracted, as coronavirus restrictions and high commodity prices put pressure on the latter global economy.

The official index of purchasing managers in the industry (PMI) stood at 50.1 in August, against 50.4 in July, according to data from the National Bureau of Statistics released on Tuesday.

The 50 point threshold separates growth from contraction. Analysts had expected it to fall to 50.2.

A worrying sign of the slow recovery of consumption in China, an indicator of the activity of the service sector experienced a sharp contraction in August for the first time since the peak of the pandemic in February of last year.

China has experienced an impressive recovery after being affected by the coronavirus pandemic. However, growth has recently shown signs of slowing down due to the resumption of the epidemic in the country, the slowdown in exports, stricter measures to control house prices and a campaign of reduction. carbon emissions.

The official composite PMI index for August, which includes both manufacturing and service activity, fell 48.9 from 52.4 in July.

(Gabriel Crossley; version franaise Camille Raynaud)

See Also:  The country renegotiated its bonds and relied on the International Monetary Fund

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.