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China’s July manufacturing hits 15 months low

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/07/2015 (13:35)
According to a preliminary purchasing managers’ index compiled by Markit Economics and Caixin China, a gauge of China’s Purchasing Managers’ Index contracted to an initial reading of 48.6 in July following a final reading of 49.4 in June. The contraction in the PMI defied stabilization expectations in the manufacturing sector. A reading below 50 indicates contraction.

All the sub-indexes also showed decreases in July. Both new orders and new exports decreased after posting increases in the previous month. Analysts commented that China’s manufacturing sector decreased at a faster than expected rate. The low reading indicates that the Chinese economy has still not recovered despite interest rate cuts, higher spending on infrastructure and signs of stabilization in the real estate market.
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