Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, July 31 (Xinhua) — China's manufacturing sector weakened slightly in July due to seasonal factors, but the fundamental conditions for economic growth remained in place, new industries are gaining momentum and business confidence continues to strengthen.
China's manufacturing purchasing managers' index (PMI) stood at 49.3 in July, down 0.4 percentage points from June, data from the National Bureau of Statistics (NBS) showed Thursday.
China's manufacturing industry has entered its traditional low season, with the situation further affected by abnormally high temperatures and natural disasters, including heavy rains and floods in some regions, said NBS statistician Zhao Qinghe.
Despite the overall decline, Zhao Qinghe noted that a number of sub-indices showed positive dynamics. The business activity index in high-tech manufacturing was 50.6, and in equipment manufacturing – 50.3, both indicators remained above the threshold separating growth and decline.
Market expectations have improved markedly. The business expectations index rose to 52.6, up from 52 in June. Particularly optimistic were sectors such as automobile manufacturing, railway equipment manufacturing and electrical equipment manufacturing, with their expectations indexes exceeding 55.
Other positive signals revealed by the data include steady growth in the manufacturing index, continued price recovery and stable growth in large enterprises. -0-
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