BEIJING : China's factory activity contracted less than expected in August, shrinking for the second straight month, as COVID flare-ups, power rationing amid the worst heatwaves in decades and the embattled property sector pressured manufacturers.
The official manufacturing Purchasing Managers' Index edged up to 49.4 in August, from 49.0 in July, data from the National Bureau of Statistics showed on Wednesday.A Reuters poll had expected the PMI to come in at 49.2.
Most factories are moving to SEA and India.
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