China's manufacturing sector up in July - Breaking The News

China's manufacturing sector up in July

1 August

1 min read

EPA-EFE/ALEX PLAVEVSKI

China's National Bureau of Statistics (NBS) Purchasing Manager's Index (PMI) for manufacturing landed in the expansionary territory in July, despite decreasing to 50.4, according to a preliminary report released on Thursday by the China Federation of Logistics and Purchasing (CFLP).

The data, compiled by the NBS, showed the headline figure above the neutral 50, down compared to last month's 51.7 to land slightly below estimates despite marking an overall production decline in the sector.

"In general, the eased Covid situation and restrictions facilitated a continuous recovery in the manufacturing sector in July. Supply and demand continued to improve, with supply stronger than demand. Employment lagged, remaining in contractionary territory," Senior Economist at Caixin Insight Group Dr. Wang Zhe said about the data.

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