The purchasing managers' index (PMI) for China's manufacturing sector stood at 49.4 in August, up 0.1 percentage point from the previous month, according to official data released on Sunday.
The production index was 50.8 percent in August, up 0.3 percentage points from the previous month, according to the figures from the China Federation of Logistics and Purchasing and the Service Survey Center of the National Bureau of Statistics (NBS).
The raw material purchasing price index has been apparently up for three consecutive months and has remained in the expansion range for two consecutive months, indicating a faster increase in raw material prices.
In August, the PMI for equipment manufacturing industry and high-tech manufacturing industry was 50.5 percent and 51.9 percent, respectively, up 0.2 and 1.3 percentage points from the previous month.
The PMI for large enterprises was 50.8 percent in August, up 0.5 percentage points from the previous month.
The manufacturing production and operation activity expectation index in August was 53.7 percent, up 1.1 percentage points, showing rising market expectations and confidence.
"We can see that market demand is gradually stabilizing, corporate production is steadily expanding, and supply and demand prices are rising in tandem, with new growth drivers continuing to gain momentum. The overall positive trend in economic performance is becoming increasingly evident. With the onset of the peak production and construction season in September and October, and especially with robust support from macroeconomic policies, corporate market expectations are broadly improving and on the rise," said He Hui, vice president of the China Federation of Logistics and Purchasing.
"In terms of industrial sectors, the production and operation activity indexes of general equipment, railway, ship, aerospace equipment and other industries are all above 58 percent, indicating a strong level of prosperity. Companies are increasingly optimistic about the development prospects of these industries," said Huo Lihui, director of business climate survey division of the NBS Service Survey Center.
China's manufacturing PMI at 49.4 in August
