Reported about 1 month ago
China's factory activity has contracted for the fourth consecutive month in August, with the manufacturing purchasing managers' index dropping to 49.1, below the key growth threshold. The continued downturn is attributed to a combination of factors including a prolonged property slump, rising trade tensions with the US and Europe, and a restrictive fiscal policy. Despite slight improvements in construction and services, economists predict that China's economy will struggle to meet its 5% growth target for the year, requiring more substantial policy support to reverse the current trend.
Source: YAHOO