đ China's manufacturing sector shrinks for the 4th month in a row! August's PMI hit 49.1, worse than July's 49.4, signaling ongoing struggles in the world's 2nd largest economy.
Key points:
- Real estate crisis & low consumer confidence
- Geopolitical tensions with the US & EU
- Analysts expected a milder drop to 49.5
While tourism & auto sectors rebound, real estate remains a drag. Non-manufacturing PMI slightly up at 50.3.
China aims to pivot to hi-tech industries like AI. Recent economic indicators show mixed results despite gov't efforts.
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