Caixin Manufacturing PMI eases to 50.8 in July

2018-08-01 14:22:08

Chinas manufacturing sector continued to expand in July, registering slightly slower growth compared to the previous month amid weakening trend of export orders, according to a private survey on Wednesday.

The Caixin Manufacturing PMI edged down from 51.0 in June to 50.8, data showed.

The reading stayed above 50, indicating the manufacturing sector remains in expansion range.

Zhengsheng Zhong, an economist at CEBM Group, attributed the mild expansion in July to decline of export orders. He said easing pressure on capital turnover and on stocks of purchase played positive roles.

Earlier this week, the official PMI by showed manufacturing activity fell to 51.2 in July from 51.5 in the previous month.

The reading by Caixin mainly measures activities of small and medium-sized enterprises, while the official data gauge activities of large scale companies.