(Yicai Global) July 31 -- The China Manufacturing Purchasing Managers Index rose for the fifth consecutive month in July to 51.1, from June’s 50.9, showing that the recovery of economic activity in the country’s manufacturing sector is maintaining momentum.
Yet the non-manufacturing business activity index was down 0.2 point to 54.2, which brought the overall PMI composite output down 0.1 point to 54.1 this month, according to data released today by the National Bureau of Statistics.
Of the five sub-indices that make up the manufacturing PMI, the production index, the new order index, and the supplier delivery time index were all above 50, indicating expansion, and the raw material inventory index and the employee index were below 50, showing contraction.
In the non-manufacturing sector, the construction business activity index stood at 60.5, up 0.7 point from June while the services business activity index dipped 0.3 point to 53.1.
Both sectors are optimistic about the recovery of industry. The expectations index for production and operation activities was 57.8, 0.3 point more than in June, while the business activity expectations index gained 1.9 points to reach 62.2.
Editor: Kim Taylor