The official manufacturing PMI for August did indeed rise from 49.0 to 49.4, but remains below the 50 mark, which is the dividing line between increased and decreased activity in the sector.
However, the increase was somewhat greater than expected. Analysts on average had expected there to be only an increase to 49.2, according to a Bloomberg survey.
China’s growth is expected to remain at 3.5 percent this year, according to a survey of leading economists conducted by Bloomberg. The official goal from the Chinese government is for growth to be at least 5.5 percent.