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China's official manufacturing index at 8-month low
Source: Xinhua |
August 1, 2012, Wednesday
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Online Edition
Online Edition
CHINA'S manufacturing sector expanded at its slowest pace in eight months, with the purchasing managers index (PMI) for the sector easing to 50.1 percent in July, down 0.1 percentage point from the previous month, according to official survey results published today.
The PMI data released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics suggested the manufacturing sector is still expanding even though the growth has slowed.
A reading of 50 percent demarcates expansion from contraction.
However, July's PMI reading was below market expectations. Analysts have forecast that the official data may inch up from one month earlier as the world's second-largest economy is stabilizing.
A flash PMI published last week by HSBC rose to a five-month high of 49.5 percent in July due to increased pro-growth measures.
The PMI data released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics suggested the manufacturing sector is still expanding even though the growth has slowed.
A reading of 50 percent demarcates expansion from contraction.
However, July's PMI reading was below market expectations. Analysts have forecast that the official data may inch up from one month earlier as the world's second-largest economy is stabilizing.
A flash PMI published last week by HSBC rose to a five-month high of 49.5 percent in July due to increased pro-growth measures.
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