China Factory Activity Surprises With First Slump in Five Months
The official reading missed forecasts as U.S.-bound shipments fell and factory employment weakened, underscoring pressure on Beijing to support demand.
- China's official manufacturing PMI fell to 49.2 in July from 50.3 in June, the National Bureau of Statistics said Friday, dropping below the 50 threshold that separates expansion from contraction.
- The downturn follows the unwinding of an export rush that powered second-quarter growth, as American-bound shipments fell outright for the first time in several months.
- Factory conditions worsened as the sub-index for new orders dropped to 48.5 in July, the lowest since 2023, while China Beige Book reported job growth deteriorated across all sectors.
- Top officials at a Politburo meeting on Thursday pledged to "roll out pragmatic and effective new policies in a timely manner" to stabilize the economy and boost domestic consumption.
- Economic growth slowed to 4.3% in the April-June quarter, the weakest performance in more than three years, falling short of the official full-year target range of 4.5% to 5%.
18 Articles
18 Articles
China factory activity contracts in July, signalling fresh pressure on growth
China's official factory activity slipped into contraction in July after five months of expansion. The weaker PMI reading highlights mounting pressure on growth despite export support and fresh promises to spur consumption.
The Toronto Star
China’s factory activity unexpectedly slips into contraction in July
HONG KONG (AP) — China’s factory activity unexpectedly slowed in July, the first such contraction in five months, weighing on the pace of broader growth for the world's second-largest economy.
Beijing, 31 Jul (EFE).- China's manufacturing activity contracted in July, after not being able to keep up with the strong rebound of the previous month and the industry's entry into its usual low season, according to official data published on Friday by the Asian country's National Bureau of Statistics (ONE). The purchasing management index (PMI, a benchmark for the manufacturing sector) stood at 49.2 integers, 1.1 points below the June data an…
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