China’s factory PMI adds to stimulus case
The Hindu
China's manufacturing activity hits six-month low, prompting policymakers to consider more stimulus for households amid economic challenges.
China’s manufacturing activity sank to a six-month low in August as factory gate prices tumbled and owners struggled for orders, an official survey showed on Saturday, pressuring policymakers to press on with plans to direct more stimulus to households.
The National Bureau of Statistics purchasing managers’ index slipped to 49.1 from 49.4 in July, its sixth straight decline and fourth month below the 50 mark.
After a dismal second quarter, the second-largest economy lost momentum further in July, prompting policymakers to signal they were ready to leave their playbook of pouring funds into infrastructure, instead targeting fresh stimulus at households.
Sentiment remains gloomy among manufacturers as a years-long property crisis keeps domestic demand in the doldrums and Western curbs loom on exports such as EVs.
Producers reported factory gate prices were the worst in 14 months, while new order and new export order sub-indices stayed in negative territory.
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India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
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