China’s weak factory PMI raises pressure for consumer stimulus

News Snapshot:

A worker assembles a corn combine harvester at a factory in Qingzhou Economic Development Zone, East China's Shandong province, Aug. 31, 2024. Cfoto | Future Publishing | Getty Images China's manufacturing activity sank to a six-month low in August as factory gate prices tumbled and owners struggled for orders, an official survey showed on Saturday, pressuring policymakers to press on with plans to direct more stimulus to households. The National Bureau of Statistics purchasing managers' index slipped to 49.1 from 49.4 in July, its sixth straight decline and fourth month below the 50 mark separating growth from contraction. It missed...