Sunday, October 24 2021

Reuters

China August factory activity seen growing at slightly slower pace: Reuters poll

Growth in China’s factory activity likely cooled further in August, a Reuters poll showed on Monday, as COVID-related restrictions and high raw material prices continued to pressure manufacturers and the economy lost momentum. “With slowing growth momentum and dovish signals (from China’s central bank) we expect more easing, but still at a measured pace as policymakers eye headwinds in 2022.” To bolster the economy, the People’s Bank of China(PBOC) in mid-July cut the amount of cash banks must hold as reserves, releasing around 1 trillion yuan ($6.47 trillion) in long-term liquidity.

Source: Yahoo Sports

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