8月PMI数据解读：8月制造业PMI小幅回升

Manufacturing Sector Insights - August Manufacturing PMI stands at 49.4%, a slight increase of 0.1 percentage points from July, remaining below the critical line for five consecutive months, indicating a continued decline in manufacturing sentiment[2] - Production Index at 50.8%, up 0.3 percentage points from July, suggests accelerated manufacturing production expansion[3] - New Orders Index at 49.5%, up 0.1 percentage points from July, indicates a slight improvement in market demand[3] - Raw Material Inventory Index at 48.0%, up 0.3 percentage points from July, shows a narrowing decline in major raw material inventory[3] - Employment Index at 47.9%, down 0.1 percentage points from July, reflects a slight decrease in employment sentiment within manufacturing[3] Non-Manufacturing Sector Insights - August Non-Manufacturing Business Activity Index at 50.3%, up 0.2 percentage points from July, continues to indicate expansion in the non-manufacturing sector[5] - Construction Business Activity Index at 49.1%, down 1.5 percentage points from July, shows a decline in construction activity[9] - Service Sector Business Activity Index at 50.5%, up 0.5 percentage points from July, indicates growth in service activities[9] - New Orders Index for Non-Manufacturing at 46.6%, up 0.9 percentage points from July, suggests improved market demand in non-manufacturing[9] - Business Activity Expectation Index at 56.2%, up 0.4 percentage points from July, indicates optimism among non-manufacturing enterprises regarding market prospects[10]