China's official purchasing managers' index (PMI) for the
manufacturing sector rose to a four-month high in July, indicating that
the sector accelerated recovery from the COVID-19 epidemic.
The manufacturing PMI rose for the second consecutive month in July
and stood at 51.1, versus 50.9 in June, the National Bureau of
Statistics said on Friday.
A reading above 50 indicates expansion, while a reading below
reflects contraction. The index has stood above 50 for five months in a
row since March.
"China's economic condition continued to recover with business
operation improving," Zhao Qinghe, a NBS senior statistician, said.
Production increased in broad-based manner while demand gradually
recovered, Zhao said, with the expansion in output and new orders in
July both gathering pace from the previous month.
Yet activities of small manufacturers continued to contract this
month, while the floods have affected some businesses in terms of
transport, storage and other areas, Zhao added.
China's non-manufacturing PMI edged down from the previous month and
stood at 54.2 in July. The composite PMI, which covers manufacturing and
non-manufacturing activities, edged down to 54.1 from June's 54.2,
indicating an overall restorative expansion in economic activities, the