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China's factory activity shrinks for 5th month
China's manufacturing activity contracted for the fifth consecutive month in August, although at a slower pace than expected, according to an official factory survey. The official purchasing managers' index (PMI) increased to 49.7 from 49.3 in July, remaining below the contraction-expansion threshold of 50. The Chinese economy risks missing Beijing's annual growth target of around 5%.
China's manufacturing activity contracted for the fifth consecutive month in August, although at a slower pace than expected, according to an official factory survey. The official purchasing managers' index (PMI) increased to 49.7 from 49.3 in July, remaining below the contraction-expansion threshold of 50. The Chinese economy risks missing Beijing's annual growth target of around 5%. 
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