China's Aug factory activity extends declines as risks grow

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

BEIJING: China's factory activity extended declines in August as new COVID-19 infections, the worst heatwaves in decades and an embattled property sector weighed on production, a survey showed on Wednesday (Aug 31

and an embattled property sector weighed on production, a survey showed on Wednesday .

The survey suggests little improvement in the world's second-biggest economy in August activity, after a rebound in June following the reopening of COVID-19 lockdowns. Some construction work was also suspended due to the heat, dragging down the official non-manufacturing PMI in August to 52.6 from 53.8 in July.

To revive the economy, the central government last week offered another stimulus package, raising the quota on policy financing tools by 300 billion yuan .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in PROPERTY

Property Property Latest News, Property Property Headlines