China’s Manufacturing Slump Eases as August PMI Signals Slow Recovery

China’s official manufacturing PMI rose to 49.8 in August, still signaling contraction for a second straight month but better than July and forecasts; production and new orders expanded to 50.4 and 50.6, export orders recovered to 50.1, while inventories and employment remained weak and the non-manufacturing PMI stayed at 49. Economists expect growth to pick up later in the year as adverse weather fades and local governments accelerate fiscal spending, with the recovery likely to show more impact in Q4.