China's manufacturing slumps in August to 9-month low
Published on Sep 1, 2012 11:51 AM
BEIJING(AFP) - China's manufacturing activity slumped in August to a nine-month low, official figures showed on Saturday, in the latest sign of serious weakness in the world's second-largest economy.
The government's purchasing managers' index (PMI) fell to 49.2 in August from 50.1 in July, according to a statement released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics.
A PMI reading above 50 indicates expansion, while one below 50 points to contraction.
The August reading was the lowest since 49.0 in November last year, and below the median forecast of 50.0 in a survey of 11 economists by Dow Jones Newswires.
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