China's Composite PMI Contracts to 3.5-Year High in July
MT Newswires Live
Jul 31
China's overall business activity contracted in July to its lowest level since December 2022, with the official Composite PMI Output Index falling to 49.3 from 50.6 in June, according to National Bureau of Statistics data released on Friday.
A reading above 50 indicates expansion, while a figure below signals a contraction.
The index tracks the aggregate performance of both the manufacturing and non-manufacturing sectors.
The manufacturing PMI contracted for the first time in five months to 49.2, while the non-manufacturing PMI also broke its two-month streak of expansion to fall to 49.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.