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MNI BRIEF: China July PMI Contracts For Third Straight Month

MNI (Singapore)
MNI (Beijing)

China's Manufacturing Purchasing Managers Index shrank for a third straight month in July, registering 49.4, down from June's 49.5 reading, as off-season, weak demand, and extreme weather weighed, data from the National Bureau of Statistics showed Wednesday.

The production sub-index fell 0.5 points to 50.1, still above the 50 mark. However, the new orders sub-index fell by 0.2 points to 49.3. External demand was seen to stabilise and pick up, with the new export orders sub-index rising 0.2 points to 48.5.

Non-manufacturing PMI registered 50.2, down 0.3 points from the previous month to hit an eight-month low. The business activity index in the service sector decreased by 0.2 points to 50.0, with railway and air transportation as well as culture, sports and entertainment services standing above 55.0, but retail, capital and real estate markets continued to run below 47.0, the NBS said.

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