These are the official, National Bureau of Statistics (NBS) PMIs.

china pmi 31 August 2022
  • Composite is 51.7 (prior was 52.5)

The manufacturing PMI is still firmly in contraction. As I noted earlier the headwinds include:

  • COVID outbreaks and associated restrictions
    the deeply troubled contracting property sector
    power shortages in southwestern China

Services is holding on solidly in expansion though, which is encouraging.