(MENAFN- QNA) Growth in China's manufacturing fell slightly in August, down from its 27-month high achieved in July.
The purchasing managers' index (PMI), an index that measures the growth of the industrial sector in China, came in at 51.1 in August, down from July's 51.7, according to data released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing said Monday.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
A majority of sub-indices retreated in August, with those measuring production, new orders and purchasing volumes registering the biggest drops, according to China's (Xinhua) News Agency.
The Chinese economy has been struggling compared to its performance in recent years. Chinese policymakers have pinned hopes on quickening fiscal spending and selectively easing monetary policies to support faltering growth.
The government has called for more efforts to optimize credit structure by guiding more credit flow into the agriculture sector and small businesses against the backdrop of prudent monetary policy.
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