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US News Manufacturing activity in China was contracted in July, shows the PMI

14:33  31 july  2022
14:33  31 july  2022 Source:   latribune.fr

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Chine-Economy-PMI index: Manufacturing activity in China was contracted in July, shows the PMI

L'ACTIVITÉ MANUFACTURIÈRE EN CHINE S'EST CONTRACTÉE EN JUILLET, MONTRE L'INDICE PMI © Reuters/Aly index Song Manufacturing activity in China was contracted in July, shows the PMI

Pekin index (Reuters) - Manufacturing activity in China, which had straightened in June after the lifting of anti -Cavid confinements, S 'is unexpectedly contracted in July following new sanitary fears, against the backdrop of increased pessimism about the economic prospects, shows the official Chinese PMI index published on Sunday.

The PMI Manufacturer index of the National Statistics Office went down to 49.0 in July against 50.2 in the previous month, below the 50 threshold separating the contraction of the expansion of the activity.

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The analysts interviewed by Reuters awaited an improvement, at 50.4.

"The level of economic prosperity in China has dropped, the fundamentals of the takeover still need consolidation," said BNS Zhao Qinghe statistician in a press release published on the institution's website.

One of the main factors of this relapse is the continuation of the contraction of activity in the oil, coal and foundry sectors.

The index is the lowest in the last three months. The production, new orders and employment sub-indexes are all less than 50.

The manufacturing industry remains faced at high raw material prices, which reduce profit margins, while the prospects for exports are low due to fears of global recession.

This weakness of demand hinders the recovery, notes Bruce Pang, chief economist at Jones Lang Lasalle Inc, in a research note: "Growth in T3 could face larger than expected challenges, because the recovery is slow and fragile . "

(Beijing office, French version Jean-Stéphane Brosse)

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