China’s manufacturing may contract at a faster pace in August, a private survey showed, signaling more monetary and fiscal stimulus may be needed to secure a second-half rebound in economic growth.
The preliminary reading was 47.8 for a purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics, after July’s final 49.3 figure. If confirmed, it would be the weakest level since November and extend to 10 months the longest run of readings below the expansion-contraction dividing line of 50 in the index’s eight-year history.
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