China’s manufacturing industry continues to slow down in July

Beijing, Jul 31 (EFE).- The purchasing manager index, a benchmark indicator of China’s manufacturing industry, slowed in July to 50.4 points compared to the 50.9 registered in June, according to official data released Saturday.

In this index, a record above the threshold of 50 points implies growth and below, contraction.

Although the figure, released by the National Statistics Office, shows the indicator continues to be positive, it reflects a downward trend after the index added 51.9 points in March; 51.1 in April; 51 in May and 50.9 in June.

Among the five sub-indices that make up the manufacturing index, that of production stood at 51 integers (0.9 points less than the previous month) and that of new orders at 50.9 compared to 51.5 in June.

The sub-index of new export and import orders stood at 47.7 and 49.4, respectively, representing drops of 0.4 and 0.3 points compared to the previous month.

In non-manufacturing businesses, the index stood at 53.3 points in July after 53.5 in June.

Zhao Qinghe, a statistician at the office, said in a Saturday statement that “the Chinese economy continues to expand only at a slower pace,” and blamed the slowdown in July on extreme weather and the floods that the country experienced this month. EFE

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