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China's manufacturing activity unexpectedly grows in August
China's manufacturing scene just got a lift, with activity unexpectedly growing in August.
The RatingDog index hit 50.5 (up from 49.5 in July), moving the sector back into expansion territory—mostly thanks to stronger demand at home rather than exports.
RatingDog's founder calls this growth 'a breath of relief'
RatingDog's founder Yao Yu called this growth "a breath of relief rather than a sustained rally," since China is still dealing with a sluggish housing market and government limits on production due to ongoing price wars.
On the bright side, Beijing's push against deflation is starting to work, as selling prices rose after eight months of discounts—but big economic hurdles remain.