China's factory activity grew at a slower pace in August as floods across southwestern China disrupts production while smaller firms continued to struggle, potentially tempering a robust recovery for the economy from the coronavirus shock.The official manufacturing Purchasing Manager's Index (PMI) fell slightly to 51 in August from 51.1 in July, data from the National Bureau of Statistics showed on Monday. It remained above the 50-point mark that separates growth from contraction on a monthly basis.Analysts had expected it to pick up a touch to 51.2.China's vast industrial sector is steadily returning to the levels seen before the pandemic paralysed huge swathes of the economy, as pent-up demand, stimulus-driven infrastructure expansion and surprisingly resilient exports propel a recovery, but the recovery remains uneven.
Source: https://m.dailyhunt.in/news
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