{"id":2017610,"date":"2023-08-31T00:42:02","date_gmt":"2023-08-31T04:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-factory-activity-shrinks-for-5th-month-maintains-pressure-for-policy-support\/"},"modified":"2023-08-31T00:45:20","modified_gmt":"2023-08-31T04:45:20","slug":"chinas-factory-activity-shrinks-for-5th-month-maintains-pressure-for-policy-support","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-factory-activity-shrinks-for-5th-month-maintains-pressure-for-policy-support\/","title":{"rendered":"China&#8217;s factory activity contracts for 5th consecutive month, urging policy support."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchinas-factory-activity-shrinks-for-5th-month-maintains-pressure-for-policy-support%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2017610&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><h2>China&#8217;s Manufacturing Activity Contracts \u2062for Fifth \u2064Straight Month<\/h2>\n<\/p>\n<blockquote>\n<p>BEIJING (Reuters) &#8211; China\u2019s manufacturing activity contracted for \u200ca fifth straight month in August, an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-factory-activity-ekes-out-growth-in-sept-weakening-global-demand-weighs\/\" title=\"China factory activity ekes out growth in Sept, weakening global demand weighs\">official survey showed<\/a> on \u2063Thursday, maintaining pressure on officials to provide \u2063support to shore up <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-factory-activity-shrinks-for-5th-month-maintains-pressure-for-policy-support\/\" title=\"China's factory activity contracts for 5th consecutive month, urging policy support.\">economic growth amid soft demand<\/a> both at home and \u200dabroad.<\/p>\n<\/blockquote>\n<p>The official purchasing managers\u2019 index (PMI) rose to \u200d49.7 from 49.3 in July, according \u2064to the \u200dNational Bureau of Statistics, staying below \u2064the 50-point level demarcating \u2062contraction from \u2063expansion. The reading was above a forecast of 49.4.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The world\u2019s second-largest\u2062 economy risks missing Beijing\u2019s annual growth \u200btarget \u2063of around\u2063 5% as officials wrestle with a worsening property slump, weak consumer spending, and tumbling credit growth, leading major banks to downgrade their growth forecasts for the year.<\/p>\n<p><h3>&#8220;A Sequential Uptick in Growth Activity Could Still Be Possible&#8221;<\/h3>\n<\/p>\n<p>\u201cIt\u2019s too early to tell, but today\u2019s \u2062print suggests that a sequential uptick in growth activity in the\u200c third quarter could still\u2064 be\u2062 possible,\u201d said Louise Loo, senior economist with Oxford \u2064Economics.<\/p>\n<p>\u201cParticularly \u2064if incoming stimulus starts feeding through\u200b to \u200dthe economy.\u201d<\/p>\n<p>Beijing on \u2064Sunday announced halving the stamp duty on\u2063 stock trades,\u2063 the first cut to the tax since 2008, to boost investor sentiment.<\/p>\n<p>Detailed rules were also unveiled on Friday to \u200bease first-home mortgages. And some Chinese\u200c state-owned banks will soon lower interest rates on existing mortgages.<\/p>\n<p>The fresh moves came after a raft \u2063of measures aimed \u200dat reviving big-ticket purchases, notably of new-energy vehicles. Still, many analysts\u2062 see \u200conly a slim chance for any \u2063drastic stimulus amid concerns over mounting \u200ddebt risks.<\/p>\n<p>The non-manufacturing\u200b PMI, which incorporates sub-indexes for \u2063service sector activity and construction, \u2063fell to 51.0 from July\u2019s 51.5,\u2062 led by a continuing fall in\u2063 services \u200dactivity.<\/p>\n<p>\u201cWith mounting evidence that non-manufacturing activity\u2064 is slowing, \u200da more decisive upturn in manufacturing will be needed to keep overall growth from slowing,\u201d said Frederic Neumann, chief Asia economist and co-head of Global Research Asia \u200cat \u2063HSBC.<\/p>\n<p>The composite PMI, including\u200b both\u200d manufacturing and non-manufacturing\u200c activity, rose to 51.3 from 51.1.<\/p>\n<p>  (Reporting by \u200dJoe Cash and Qiaoyi Li; \u200badditional reporting by Ellen ZhangEditing by \u200bSam Holmes and \u200dShri Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chinas-factory-activity-shrinks\/attachment\/worker-wearing-a-face-mask-works-on-a-production-line\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Mitch\u200b McConnell\u200b makes the case why he shouldn\u2019t \u2062retire\u200d while Blake Masters could still\u2063 be trying to join him \u200cin the Senate GOP.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>45th President Donald Trump has been scheduled to be\u200d arraigned in Fulton County, Georgia on Friday, September 6th. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Washington Examiner is reporting that BlackRock is easing their support for proposals from their shareholders regarding ESG.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>GDP Slows at\u200c 2.1%: U.S. \u200cEconomy Shows Contraction from Initial 2.4% Estimate. Household and Credit Card Debt \u2064Peaks; U.S. \u2062Credit\u2064 Rating Downgraded. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Josh Ye and Urvi Manoj \u2064Dugar\u200b (Reuters) -At least three Chinese tech firms including Baidu, Baichuan Intelligent Technology \u2064and Zhipu AI\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SHANGHAI (Reuters) \u2013 Chinese artificial intelligence (AI) firms Baichuan Intelligent Technology and Zhipu AI \u200bon Thursday opened their AI large language models\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Alphabet\u2019s Google said on\u2064 Wednesday \u2062it <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/boj-policymaker-nakamura-warns-against-premature-monetary-tightening\/\" title=\"BOJ policymaker Nakamura cautions against early monetary tightening.\">introduced generative artificial intelligence<\/a> to its Search tool for users in \u2064India and Japan\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Zaheer Kachwala (Reuters) -Salesforce raised its annual revenue forecast on\u2063 Wednesday and projected quarterly sales above estimates as it benefits from\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s manufacturing activity continued to decline in August, marking the fifth consecutive month of contraction. With weak demand domestically and internationally, officials are under pressure to take measures to support economic growth. The official purchasing managers&#8217; index (PMI) increased slightly from 49.3 in July to 49.7.<\/p>\n","protected":false},"author":66,"featured_media":2017611,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2017610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2017610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2017610"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2017610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2017611"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2017610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2017610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2017610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}