China Factory Activity Unexpectedly Contracts for First Time in Five Months

Macro Impact 4
โดย Bloomberg·Read original
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China's factory activity unexpectedly contracted for the first time in five months, adding to signs of slowing economic momentum. The official manufacturing purchasing managers' index fell to 49.2 in July from 50.3 in June, the National Bureau of Statistics said Friday, missing the median economist estimate of 50.1. The non-manufacturing measure of activity in construction and services dropped more than forecast to 49, the lowest since December 2022, from 50.2 last month. The declines suggest economic weakness is becoming more entrenched, with soft domestic demand outweighing resilience in exports. Top officials pledged to roll out pragmatic and effective new policies in a timely manner during a key policy meeting on Thursday.

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