China’s manufacturing sector expanded at its slowest pace in eight months, with the purchasing managers index (PMI) for the sector easing to 50.1 percent in July, down 0.1 percentage points from the previous month, according to official survey results published on Wednesday.
The PMI data released by the China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics suggested the manufacturing sector is still expanding even though the growth has slowed.
A reading of 50 percent demarcates expansion from contraction.
However, July’s PMI reading was below market expectations. Analysts had forecasted that the official data could inch up from one month earlier.
A flash HSBC PMI reading published last week rose to a five-month high of 49.5 percent in July due to increased pro-growth measures.
via Xinhua
