China Manufacturing PMI Rises to 49.8 in August but Remains in Contraction

China's manufacturing sector contracted for a second consecutive month in August, though the pace of decline slowed and key indicators showed improvement, highlighting persistent economic challenges despite some bright spots in exports and high-tech production. The official manufacturing Purchasing Managers Index (PMI) rose to 49.8 in August from 49.2 in July, according to data released by the National Bureau of Statistics on Monday. While the reading remained below the 50-point threshold that separates expansion from contraction, it exceeded the median forecast of 49.6 from a Reuters poll of economists. The data revealed a mixed picture of the world's second-largest economy.