MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

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Disappointing details in the German PMI prints

GERMAN DATA
  • Details behind German PMI a little disappointing: manufacturing suffered from disruption to production leading to supply delays.
  • "The Manufacturing Output Index meanwhile fell notably to 62.7, from 67.6 in April and further from the record high at the end of the first quarter."
  • "Growth of new orders at goods producers remained strong but eased to the slowest for three months. This was also the case for manufacturing export orders" However, services saw growth in new orders as lockdown was eased.
  • Also got more concerns about bad inflation: "Led by an unprecedented increase in factory gate prices, average prices charged by German businesses showed the steepest rise since comparable data were first available"
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