Official data: China’s manufacturing activities shrank in July as lockdowns bit
Official data: China’s manufacturing activities shrank in July as lockdowns bit
The latest data from the National Bureau of Statistics (NBS) showed manufacturing activities in China contracted in July as COVID-19-related lockdown bit while the darkening global economic outlook weigh on demand.
The official purchasing managers' index (PMI) fell to 49 points in July from 50.2 in June.
Sub-indexes for industrial output and new orders fell by 3 points and 2 points respectively in July as weak demand constrain recovery.
The official non-manufacturing index fell 0.9 points from the previous month to 53.8.