According to CoinMeta, China's manufacturing activity in August exceeded expectations, but it was still in a state of contraction. The Manufacturing Purchasing Managers Index (PMI) from the National Bureau of Statistics rose from 49.2 in July to 49.8, exceeding the forecast of 49.6 by Reuters economists, although it remained below the 50 mark that separates expansion from contraction. The non-manufacturing PMI stayed at 49.0, indicating that there are no signs of stability in services and construction activities. The composite PMI rose slightly to 49.5, suggesting that the overall economic contraction is slowing down. Although exports remain one of the few areas supporting growth, the pressure of weak domestic demand still exists.