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July Caixin China manufacturing PMI fell to 49.2, slipping into contraction territory again after two months
2023-8-2
In July, China’s manufacturing industry sank into contraction territory in July and both output and demand contracted slightly. In particular, weak overseas demand has weighed on the overall demand. The July Caixin China Manufacturing Purchasing Managers Index (PMI) released on August 1 reached 49.2, 1.3 percentage points lower than that of June, and the expected value is 50.3, sinking below 50 after two months. This data is not consistent with the data given by the National Bureau of Statistics. The manufacturing PMI released by the Bureau of Statistics rose slightly to 49.3 in July, 0.3 percentage points higher than that in June, and stayed in the contraction territory for four consecutive months.
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