China's manufacturing PMI at 49.4 in August

The purchasing managers' index (PMI) for China's manufacturing sector stood at 49.4 in August, up from 49.3 in the previous month, official data showed Sunday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The sub-index for production stood at 50.8, up from 50.5 and remaining within the expansion zone for the fourth consecutive month. "This shows that manufacturing production has picked up pace," said Zhao Qinghe, a senior statistician with the National Bureau of Statistics as quoted by Xinhua News Agency.

On the demand side, the sub-index for new orders came in at 49.5, up from 49.4 in the previous month.

Some key sectors maintained growth momentum, with PMI for high-tech manufacturing and equipment manufacturing standing at 51.9 and 50.5, respectively, continuing to play a pivotal role in underpinning the country's manufacturing industry.

Sunday's data also showed a more positive market outlook, with the sub-index for production and business activity expectations reaching 53.7, up from 52.6 in July. "This marks the second consecutive month of growth for the sub-index, indicating that most manufacturing companies have strengthened confidence in the future market," Zhao said

WAM