China’s manufacturing activity held steady in August as domestic demand helped to offset weaker orders from exports markets that are struggling with the coronavirus pandemic, a survey showed Monday. The monthly purchasing managers’ index released by the Chinese statistics agency and an industry group declined to 51 from July’s 51.1 on a 100-point scale on which numbers above 50 indicate activity increasing. A sub-measure for production declined to 53.5 from the previous month’s 54. Export orders shrank but at a slower rate. That measure improved to 49.1 from 48.4. China, where the pandemic began in December, was the first economy to shut down to fight the virus and the first to try to revive business after the ruling Communist Party declared victory over the disease in March. Chinese consumer demand is recovering but not as quickly as Beijing wants. The export outlook is uncertain due to […]