China's Manufacturing Sector PMI For July Rises To 53.3%

Sponsored Links

China Federation of Logistics and Purchasing Saturday indicated the Purchasing Managers' Index for China's manufacturing sector for July at 53.3%, up 0.1 percentage point from June. A 50 and above reading indicates expansion, while one below 50 suggests contraction. In June, the index gained 0.1 percentage point from May.

The Purchasing Price Index for July improved 2.1 percentage points to 59.9%, a monthly increase since December. The output index was 57.3%, an increase of 0.2 percentage point from last month. The new order index for July was 55.5% in July, same as that in the previous month.

PMI includes a indices that measure economic performance. In China, the survey is conducted by the National Bureau of Statistics, covering purchasing and supply managers of over 700 firms.

For the second quarter this year, the Chinese economy grew 7.9%, up from 6.1% in the first quarter and 6.8% in the fourth quarter last year.

(Market News Provided by RTTNews)