2023-07-31 06:29:00
BEIJING, July 31 (Xinhua) — China’s manufacturing sector saw an improvement in business sentiment in July, with the key indicator rising for the second consecutive month, data showed Monday.
The purchasing managers’ index for the sector stood at 49.3 in July, down from 49 in June and 48.8 in May, according to the National Bureau of Statistics (NBS). A number above 50 indicates expansion, while a number below 50 reflects contraction.
Of the 21 industries surveyed, ten reported expansion in July, compared to eight in June. The business climate has improved overall, said NBS statistician Zhao Qinghe.
Monday’s data also showed that the PDI for the non-manufacturing sector — 51.5 in July — has remained well above the expansion-contraction threshold for seven straight months, a sign of sustained activity in the service and construction sectors.
Both manufacturing and non-manufacturing enterprises maintained a stable outlook, with sub-indexes measuring market expectations being in a boom period, Zhao said, noting that China’s economy has maintained its recovery trend. END
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