China Manufacturing Sector Expands For Fourth Month
31 Agosto 2020 - 10:42PM
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China's manufacturing activity expanded for the fourth straight
month in August suggesting that the sector continued to recover
from the impact of the coronavirus pandemic, survey data from IHS
Markit showed Tuesday.
The Caixin manufacturing Purchasing Managers' Index rose to 53.1
in August from 52.8 in July. The reading signaled a solid overall
improvement in the health of the sector, and one that was the most
marked since January 2011.
According to official survey, the manufacturing PMI fell
marginally to 51.0 in August from 51.1, while the non-manufacturing
PMI advanced to 55.2 from 54.2 a month ago.
IHS Markit survey revealed that manufacturing new orders
expanded at the sharpest rate since the start of 2011 amid reports
of firmer client demand as the domestic and global economy
continued to recover from the pandemic. Notably, manufacturers
registered the first increase in new export sales since December
2019.
Driven by higher new business, production expanded further. The
rate of growth was the most marked since January 2011. At the same
time, staff numbers fell at a fractional pace that was the slowest
in the year to date.
Chinese manufacturers faced a further increase in average input
costs in August. The rate of inflation remained solid overall amid
reports of greater raw material costs. Consequently, companies
partially passed on their higher operating expenses to clients in
the form of higher selling prices.
Although firms generally expect output to rise over the next
year, the degree of optimism edged down to a three-month low in
August.
The survey data suggest that manufacturing growth has continued
to pick up in recent weeks, despite having already returned to its
pre-virus level at the end of the second quarter, Julian
Evans-Pritchard and Sheana Yue, economists at Capital Economics,
said.
In the near-term, continued policy stimulus is set to keep
industrial growth strong, the economists added.
Macroeconomic policy supports are essential, especially when
there are still many uncertainties in domestic and overseas
economies, Wang Zhe, senior economist at Caixin Insight Group said.
Relevant policies should not be significantly tightened.
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