China is about to report important monthly data, here is what economists expect

by Dramelin 6:00 PM 0 comments

China is set to report its official manufacturing Purchasing Managers` Index for the month of July on Monday.
Economists were expecting that PMI number to come in a 51.
6 for July, just slightly slower from June`s 51.
7 reading, according to a poll by Reuters.
Levels above 50 indicate expansion, while levels below signal contraction.
Earier this month, 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.
"Something has to give if they are curtailing credit," said Vishnu Varathan, Mizuho Bank`s head of economics and strategy.