SHANGHAI, Aug. 1 (SMM) – Data from China Federation of Logistics & Purchasing on August 1st shows Manufacturing Purchasing Manager's Index (PMI) continued to fall in July. Meanwhile, the HSBC China Manufacturing PMI released on the same day also fell below 50%, which indicates contracting economic activities in China.
July PMI of China released by China Federation of Logistics & Purchasing was 50.7%, down 0.2% MoM. Though the index remained above 50%, it had already fallen to a 29-month low, indicating a contracting trend of Chinese economy. The HSBC China Manufacturing PMI for July released on the same day was 49.3, a new low since March 2009, signaling a dim future for China’s manufacturing industry. Further more, it is also the first time that HSBC China Manufacturing PMI fell below 50, which indicates that in a period of high inflation and complex domestic as well as overseas situations, China’s manufacturing activities are expanding at a slower pace, and that China’s economic momentum is weakening to some extent.
Copyright © SMM. All Rights Reserved.
None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: email@example.com.