July's PMI update reveals a mixed bag for China's economy! Data from the National Bureau of Statistics shows the manufacturing purchasing managers' index (PMI) dipped to 49.3 in July, down 0.4 points from the previous month. Although this figure is just below the 50-mark threshold, it signals a temporary slowdown in the manufacturing sector.
Meanwhile, the non-manufacturing sector remains robust with a PMI of 50.1, and the composite PMI reads 50.2. These numbers point to overall business and production growth, much like a plot twist in your favorite Netflix series – a slight setback in one area can be balanced by strengths elsewhere.
Even more encouraging is the performance of large enterprises, which posted a PMI of 50.3, with production and new order indices at 52.1 and 50.7 respectively. Marking three consecutive months in expansion territory, this data shows that major players are maintaining stability and resilience. Stay tuned as these trends offer valuable insights for business enthusiasts and trend followers alike! 🚀
Reference(s):
China's manufacturing PMI at 49.3 in July, composite PMI at 50.2
cgtn.com
