Chinese industrial activity shrinks for fourth month in a row
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The business activity index (PMI) in the industrial sector of China in July amounted to 49.3 points, according to report National Bureau of Statistics of the People’s Republic of China. This is the fourth month in a row that the reading has fallen below 50 points, indicating a reduction in activity.
Compared with June the value of the industrial PMI turned out to be higher – then it amounted to 49 points. “Although China’s manufacturing PMI rebounded to 49.3% this month, some enterprises participating in the survey reported that the current external environment is difficult and harsh, overseas orders have declined, and insufficient demand is still the main difficulty. faced by enterprises,” reads the accompanying letter to the report.
In addition, PMI in the non-manufacturing sector in July fell to 51.5 points – this is the lowest figure since the beginning of the year. In June it was 53.2 points.
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