China’s non-manufacturing PMI dips to 50.2 in July

China’s non-manufacturing Purchasing Managers’ Index (PMI) edged down to 50.2 in July from 50.5 in June, according to official data released on Wednesday.

The index, which measures activity in the services and construction sectors, remained above the 50-point mark separating expansion from contraction.

The services sector sub-index fell to 50 in July from 50.2 in June. While sectors like railway transport, air transport, postal services, culture, sports, and entertainment grew rapidly, while retail, capital market services, and property sectors shrank.

The construction sector sub-index dropped to 51.2 in July from 52.3 in June, according to NBS senior statistician Zhao Qinghe. Factors like heat waves, rainstorms, and floods nationwide disrupted construction project progress.

The construction sector’s business expectations remain positive, with a reading of 52.9, indicating optimism for future industry development, as reported by Zhao.

In July, the country’s manufacturing PMI slightly decreased to 49.4, according to NBS data released on Wednesday.

Attribution: Reuters