China's manufacturing sector unexpectedly contracted in August as power cuts and temporary factory closures due to the heatwave dampened production and sales, survey results from S&P Global showed on Thursday.
The Caixin manufacturing Purchasing Managers' Index fell to 49.5 in August from 50.4 in July.
The reading fell below the neutral 50.0 mark for the first time since May. The score was forecast to fall to 50.2.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.