China's July PMI Data Shows Economic Activity Slowing in Both Manufacturing and Non-Manufacturing Sectors

Published: Jul 31, 2026 18:37

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[SMM Aluminum Flash] Data from the National Bureau of Statistics (NBS) showed that in July, the manufacturing PMI was 49.2%, down 1.1 ppt MoM, indicating a pullback in economic activity. The non-manufacturing business activity index in July came in at 49.0%, down 1.2 ppt MoM, with the non-manufacturing sector's economic activity declining from the previous month. The composite PMI output index in July was 49.3%, down 1.3 ppt MoM, suggesting that overall business activity of China's enterprises slowed down MoM.

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