China's factory activity improves but stays in contraction in August

BEIJING: China’s factory activity improved in August but remained in contraction for a second straight month, an official survey showed on Monday, in a further sign that economic growth has lost some steam due to persistently weak domestic demand. The official manufacturing purchasing managers’ index (PMI) picked up to 49.8 from 49.2 in July, remaining below the 50-mark separating growth from contraction, according to a survey by the National Bureau of Statistics. It beat the median forecast of 49.6 in a Reuters poll.