China’s Official Manufacturing PMI Falls In July

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Official government data showed that China’s manufacturing activity dropped in July, missing expectations for a slight growth, Reuters reported.

The official Purchasing Managers’ Index (PMI) was stalled at 50 in July, lower than the 50.2 figure posted in June.

The July PMI stands on the mark that separates growth from contraction on a monthly basis.

Analysts earlier predicted a reading of 50.2 for July.

Earlier, preliminary gauge of mainland China’s manufacturing activity fell to a 15-month low, an indication that the second-biggest economy globally is still struggling to find equilibrium while trying to control a slowdown.

Initial reading of the Caixin China manufacturing Purchasing Managers’ Index was at 48.2 in the month of July. It was at 49.4 a month ago, according to research-firm Markit and Caixin Media Co on 24 July.

A reading of more than 50 is indicative of expansion, while a reading under 50 shows contraction. – BusinessNewsAsia.com

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