China’s manufacturing sector slows as export demand weakens
BEIJING (AP) — A survey shows China’s factory activity decelerated in August as export demand weakened. The numbers released Tuesday showed that the monthly purchasing managers’ index of the Chinese statistics bureau and an official industry group declined to 50.1 from July’s 50.4 on a 100-point scale on which numbers above 50 show activity increasing. A sub-measure of new exports fell by a full point from the previous month to 46.7. Officials have warned demand for Chinese exports was likely to weaken in the second half of the year. Factory and consumer activity have been dampened by flooding in July and tighter anti-coronavirus controls.