BEIJING — Chinese manufacturing contracted for a fourth consecutive month in August, official data showed Saturday, a worse-than-expected result reflecting the world's second-largest economy's struggle to recover.
BEIJING — Chinese manufacturing contracted for a fourth consecutive month in August , official data showed Saturday, a worse-than-expected result reflecting the world's second-largest economy's struggle to recover. China is facing a crisis in its vast real estate sector as well as lackluster confidence among households and businesses, which is hindering consumption, while geopolitical tensions with Washington and the European Union threaten foreign trade.
Analysts surveyed by Bloomberg had anticipated a decline in August but a more moderate one of 49.5.China's post-Covid recovery has been brief and less robust than expected.While some sectors have largely regained their strength including tourism and the auto industry others are struggling, particularly real estate, a key growth driver.The nonmanufacturing PMI, which includes services, was in positive territory in August at 50.3 points compared with 50.2 a month earlier.
Manufacturing Shrinks In August
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Beijing says Chinese, Philippine ships 'collided' in disputed South China SeaDefining the News
Read more »
Chinese, PH ships 'collide' near disputed shoalBEIJING — Chinese and Philippine vessels 'collided' Monday during a confrontation near a disputed shoal in the South China Sea, Beijing's state media said, citing the Chinese coast guard.
Read more »
No coding on August 23 and August 26, MMDA saysDefining the News
Read more »
Biden aide Sullivan lauds 'rare' talks with Chinese military in BeijingBEIJING, China — Top White House aide Jake Sullivan met a senior Chinese military official Thursday, praising the 'rare' one-on-one as he wrapped up a visit to Beijing with plans for presidents Joe Biden and Xi Jinping to speak soon.
Read more »
Biden aide Sullivan lauds 'rare' talks with Chinese military in BeijingDefining the News
Read more »
Russia payment hurdles with China partners intensified in August, sources sayRussian companies and officials for a few months have pointed to delays in transactions after Chinese banks tightened compliance following Western threats of secondary sanctions for dealing with Russia. Sources say the problem has intensified this month.
Read more »