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China’s factory activity expands at slower rate in July

Updated: Jul 31,2018 1:30 PM     Xinhua

BEIJING — The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 51.2 this month, down from 51.5 in June, the National Bureau of Statistics (NBS) said on July 31.

Activities of the country’s non-manufacturing sector also expanded at a slower pace in July, with its PMI standing at 54, compared with 55 in June.

Though PMIs for both sectors dropped compared with the previous month, they still pointed to steady expansion as a reading above 50 indicates expansion, while a reading below reflects contraction.

The PMI for the manufacturing sector remained above 51 for five consecutive months while that for the non-manufacturing sector maintained at or above 54 for 11 months in a row.

The general PMI output index for July reached 53.6, down from 54.4 in June, indicating steady but slower production and operation activity expansion for the country’s enterprises.

NBS senior statistician Zhao Qinghe attributed the slight drops in July’s PMI figures to bad weather conditions, escalating trade tensions and a slack season for some sectors.