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MNI BRIEF: China's July Manufacturing Contracts At 49.3

MNI (Singapore)
MNI (Beijing)

China's Purchasing Managers' Index contracted for the fourth straight month, registering 49.3 in July, rebounding slightly from 49 in June though still below the breakeven 50 mark, data from the National Bureau of Statistics showed Monday.

The production sub-index marked 50.2 in July, edging down 0.1 points from June. The new orders sub-index – a gauge of demand – printed at 49.5, an improvement from last month's 48.6. However, over 60% of manufacturers still report insufficient demand, limiting expansion in production, said Zhang Liqun, analyst of China Logistics Information Center.

Non-manufacturing PMI registered 51.5, a further fall from last month's 53.2. Business activity indices in the service and construction sectors declined by 1.3 and 4.5 points, the NBS added.

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