China's manufacturing PMI data show that the economic growth rate is still in the downward process in August

China Drying Network News China Manufacturing Purchasing Managers Index (PMI) was 49.2% in August, which was a decrease of 0.9% from the previous month and fell below 50% for the first time in a year. From the classification index of the manufacturing PMI, the production index for August was 50.9%, down by 0.9% from the previous month, indicating that manufacturing production is still expanding but the growth rate is slowing down. The analysis report of the China Federation of Logistics and Purchasing believes that China's manufacturing PMI data in August showed that the economic growth rate is still in the downward process. However, considering the changes in the main sub-indicators, the current economic growth rate has gradually bottomed out.

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