China’s manufacturing sector displayed a more favourable business environment in July 2023 as its purchasing managers’ index (PMI) for the sector increased to 49.3 in July from 49 in June and 48.8 in May, as per the National Bureau of Statistics (NBS). This number, however, still lies below the 50-mark, indicating contraction rather than expansion.Of the 21 industries surveyed, 10 experienced expansion in July—a growth from eight the previous month. NBS statistician Zhao Qinghe noted an overall improvement in the manufacturing climate, according to local media reports.
China's manufacturing sector saw a favourable business climate in July, with the PMI rising to 49.3, up from previous months, according to the National Bureau of Statistics.
Among 21 surveyed industries, 10 expanded in July.
NBS's Zhao Qinghe observed improvement in manufacturing and noted stability in both manufacturing and non-manufacturing sectors.
Zhao further observed that both manufacturing and non-manufacturing businesses have upheld a stable outlook, with sub-indexes reflecting market expectations in the high-climate zone.
ALCHEMPro News Desk (NB)
marketing@alchempro.com
