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The manufacturing purchasing managers index fell 51.2 in July Bloomberg survey of economists. The non-manufacturing PMI, covering services and construction, stood at 54, the bureau said Tuesday, compared with 55 in June. Levels above 50 indication improvement.
Factories are faced with challenges, and with the introduction of this type of product. The government last week unveiled a package of fiscal support for tax evasion and acceleration of bond issuance for infrastructure investment, and there are also signs that the market is being leveraged.
The reading for new orders slipped to 52.3 from 53.2 the previous month, with new export orders remaining in contraction territory at 49.8.
"The data clearly shows a slowdown in economic momentum," said Raymond Yeung, China's chief economist for Australia & the United States. New Zealand Banking Group Ltd. in Hong Kong. "It can justify the more proactive fiscal stance launched last week. The decline in new orders with new export orders staying flat means the slowdown is domestic, not an impact of the trade war. "- Bloomberg
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