S&P Global noted that the deterioration in the sector's health was partly driven by a renewed drop in new orders at Russian manufacturers

China's manufacturing activity declined for the second consecutive month in August, with the PMI rising slightly to 49.8, surpassing economists' expectations of 49.6.

India’s manufacturing PMI fell to 52.8 in August, a five-year low, as output and new orders growth weakened and employment contracted mildly.