Official data: China’s manufacturing activities growth slowed in July

The latest data from the Chinese National Bureau of Statistics (NBS) showed that the country’s factory activities remained in the expansionary territory in July 2021, however, the growth rate has fallen to the lowest level in seventeen months.  

The official manufacturing Purchasing Managers’ Index (PMI) dropped to 50.4 points from 50.9 in the previous month, which industry experts blamed the rising input costs and heightened logistics bottleneck.

New export orders fell for three consecutive months, to 47.7 points in July.

The construction sub-index dropped to 57.5 from 60.1 in June, hit by extreme weather conditions.