The Chinese recovery is slowing down with the contraction of activity in the services sector which falls below 50, the dividing line that separates growth from decrease. The official index of non-manufacturing purchasing managers (SMEs), which measures sentiment in the services and construction sectors, fell to 47.5. The official manufacturing PMI, on the other hand, is at 50.1 in August, from 53.3 in July. Beijing begins to feel the blow of contagions and restrictive regulation in the digital economy sector.
New stop after the slowdown in profits
After the slowdown in industrial profit growth reported in August, China adds further evidence to the economy’s loss of economic momentum.
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The Chinese regulatory crackdown in recent months is already creating damage to its economy, as demonstrated by the fact that the official index of purchasing managers in the Chinese non-manufacturing sector (PMI) in August cut the psychological threshold of 50, dropping to 47. , 5.
The official index of the manufacturing sector, on the other hand, held up, albeit slightly, in August it dropped to 50.1 in August, from 53.3 in July.
Both indicators have shown a gradual decline in recent months, as infections recovered and data security laws began to take effect.