The official gauge missed expectations, but investors are watching this take on Chinese growth

by 6:30 PM 0 comments
China is set to see another set of Purchasing Manager`s Index readings on Tuesday as Caixin and IHS Markit announce indicators amid concerns about slowing growth in the world`s second-largest economy.
In June, the Caixin manufacturing PMI came in at 50.
4, up from May`s 49.
6, which was an 11-month low.
Levels above 50 signal an expansion, while levels below 50 indicate contraction.
Caixin`s survey tracks small and medium-sized enterprises instead of the large companies and state-owned enterprises (SOEs) on which the official gauge focuses.
China reported Monday that its official manufacturing PMI for the month of July came in at 51.
4 — just shy of expectations.
Official services PMI meanwhile fell to 54.
5 in July from 54.
China reported second-quarter GDP growth of 6.
9 percent that topped expectations, but market watchers are expecting the economy to slow due to tightening policies in the property market and the government`s deleveraging campaign —CNBC`s Leslie Shaffer contributed to this report.

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