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Economy

Surprise China factory pick-up may not last as export orders shrink again

Updated : August 31, 2018 12:05 PM IST

Export orders shrank for a third straight month, a business survey showed, suggesting a flurry of punitive US trade actions is starting to bite even as Washington readies more sweeping measures.
The official Purchasing Managers' Index (PMI) released on Friday rose to 51.3 in August, from 51.2 in July, remaining above the 50-point mark that separates growth from contraction for a 25th straight month.
New export orders, an indicator of future activity, contracted for a third straight month. The sub-index slipped to 49.4, the lowest since February, from 49.8 in July.
Surprise China factory pick-up may not last as export orders shrink again
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