Higher tariffs: A file picture showing a worker assembling sneakers at a factory in Jinjiang city. On Sunday, higher US tariffs on roughly US$110bil in Chinese imports took effect, as did Beijing’s retaliatory duties on US goods coming the other way. — AP
BEIJING: The outlook for China’s manufacturing sector deteriorated further in August, underlining the weakness in the domestic economy just as a new round of tariffs kicks in.
The manufacturing purchasing managers’ index dropped to 49.5, according to data released last Saturday by the National Bureau of Statistics, with sub-gauges showing that domestic and new overseas orders contracted.
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