China’s non-manufacturing activities grew at slower pace in July
DATA MACRO
China’s non-manufacturing activities grew at slower pace in July
DATA MACRO

China’s non-manufacturing activities grew at slower pace in July

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

China’s non-manufacturing PMI, which covers construction and services activities, comes in at 53.8 in July, down from 54.7 in the previous month, according to data released by the National Bureau of Statistics, remaining in the expansionary territory for the second straight month but growing at a slower pace.

The sub-index for services activities fell by 1.5 percentage points to 52.8 in July, indicating china’s services sector continued to expand but grew at a slower rate, and the sub-index for construction activities was 59.2%, rising by 2.6 percentage points from the previous month, showed the data.

In particular, the indexes for industries including air transportation, hospitality, catering, ecological protection and public facilities management was above 60 as pent-up demand accumulated during the Covid-19 outbreaks was released, while activities capital market services, insurance, real estate, rental and commercial services slipped deeper into contraction.