China factory recovery continues; July PMI rises to 51.1

SINGAPORE (ICIS)–China’s manufacturing sector continues to rebound in July, with official purchasing managers’ index (PMI) rising to 51.1 from 50.9 in June, the National Bureau of Statistics (NBS) data showed.

The manufacturing PMI has been in the expansion territory for five consecutive months.

Production and demand are both in recovery.

July’s production index stood at 54, slightly higher than June’s reading of 53.9. This month’ s new order index increased by 0.3 to 51.7.

Foreign trades show uptrend momentum. New export order index stood at 48.4, up from 42.6 in the previous month.

Meanwhile, companies show improved confidence in future operations, the NBS said.

July’s non-manufacturing PMI went down to 54.2 from June’s figure of 54.4.

Composite PMI for July also decreased to 54.1 from 54.2 in last month.

Photo: Night view of Yangshan Port in Shanghai, China – 29 Jul 2020 (Photo by Shutterstock)

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