China’s non-manufacturing activity expanded at slower pace in July, construction activity grew slowest since Mar 2020
DATA MACRO
China’s non-manufacturing activity expanded at slower pace in July, construction activity grew slowest since Mar 2020
DATA MACRO

China’s non-manufacturing activity expanded at slower pace in July, construction activity grew slowest since Mar 2020

 

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China’s non-manufacturing activity expanded at a slower pace in July, with the official non-manufacturing Purchasing Managers’ Index (PMI) for July coming in at 51.5, according to data released by the National Bureau of Statistics, compared to expected 53 and the 53.2 in the previous month. 

In breakdown, the index for construction activities reached 51.2 in July, marking the lowest level since March 2020 and sliding by 4.5 percentage point from the previous month, while that for the services activities fell by 1.3 percentage points to 51.5, marking the lowest so far this year, showed the data. 

The sub-index for new orders reached 48.1 in July, falling by 1.4 percentage point from June, indicating the non-manufacturing market demand contracted at a faster pace, with that for construction falling by 2.4 ppt to 46.3 and services sector falling by 1.2 ppt to 48.4. 

The sub-index for input price reached 50.8, picking up by 1.8 ppt from the previous month; the sub-index for selling prices reached 49.7, picking up by 1.9 ppt; while the sub-index for employment reached 46.6, falling by 0.2 percentage point. 

Devein by the strong travel demand in the summer holiday season, the sub-indexes for railway transportation, air transportation, hospitality, catering, environment protection, cultural, sports and entertainment remained above 55, indicating a significant pickup in the activities in the industries, said Zhang Qinghe, spokesperson of the NBS.

However, due to unfavorable factors such as high temperature and rainy weather, construction activities have slowed recently, he said.