The Wall Street Journal said on Sunday that China’s official data released on Sunday showed that China’s manufacturing activity slowed in July, indicating that the tightening measures taken by China earlier this year and the increasingly uncertain global demand continue to hamper China’s economic growth. .
The much-watched decline in the Purchasing Managers' Index (PMI) means that the Chinese government is unlikely to take any tough austerity measures later this year when inflationary pressures are expected to continue to ease. The People's Bank of China last Tuesday made optimistic comments on the domestic economy, saying that the current slowdown in China's economic growth is conducive to long-term sustainable economic growth, and there is little possibility of a double bottoming.
According to data released jointly by the China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics of China, China’s purchasing managers’ index (PMI) fell to 51.2 in July from 52.1 in June, but it was the third consecutive month’s decline. It is the watershed of the expansion and contraction that is higher than 50 for the 17th consecutive month.
CFLP analyst Zhang Liqun said in an announcement that PMI continued to decline in July, suggesting that a slowdown in economic growth is taking shape; the foundation for current investment and export growth is still not solid enough. Zhang Liqun predicted that China's economy will gradually stabilize in the future, and the economic growth in 2010 may be about 9.5%.
The data shows that China’s new export orders increased in July, but the growth rate slowed down and imports fell, suggesting that the year-on-year growth of China’s import and export will continue to slow in the coming months. In the PMI sub-index, the new export order index fell to 51.2 from 51.7 in June, and the import index fell from 50.4 to 49.3. China Customs will release the July trade data on August 10. At the same time, inflation pressure may have eased as the purchase price index fell to 50.4 from 51.3.
Among PMI's 11 sub-indices, only one index rose from June, and the remaining 10 indices all fell compared with June. Among the major sub-indices, the number of employees rose, and the production index, new export order index, import index and purchase price index all declined. In July, the backlog index, finished goods inventory index, import index, purchase volume index, and supplier delivery time index were below the 50 tipping point, while other subindexes were above 50.
The much-watched decline in the Purchasing Managers' Index (PMI) means that the Chinese government is unlikely to take any tough austerity measures later this year when inflationary pressures are expected to continue to ease. The People's Bank of China last Tuesday made optimistic comments on the domestic economy, saying that the current slowdown in China's economic growth is conducive to long-term sustainable economic growth, and there is little possibility of a double bottoming.
According to data released jointly by the China Federation of Logistics and Purchasing (CFLP) and the National Bureau of Statistics of China, China’s purchasing managers’ index (PMI) fell to 51.2 in July from 52.1 in June, but it was the third consecutive month’s decline. It is the watershed of the expansion and contraction that is higher than 50 for the 17th consecutive month.
CFLP analyst Zhang Liqun said in an announcement that PMI continued to decline in July, suggesting that a slowdown in economic growth is taking shape; the foundation for current investment and export growth is still not solid enough. Zhang Liqun predicted that China's economy will gradually stabilize in the future, and the economic growth in 2010 may be about 9.5%.
The data shows that China’s new export orders increased in July, but the growth rate slowed down and imports fell, suggesting that the year-on-year growth of China’s import and export will continue to slow in the coming months. In the PMI sub-index, the new export order index fell to 51.2 from 51.7 in June, and the import index fell from 50.4 to 49.3. China Customs will release the July trade data on August 10. At the same time, inflation pressure may have eased as the purchase price index fell to 50.4 from 51.3.
Among PMI's 11 sub-indices, only one index rose from June, and the remaining 10 indices all fell compared with June. Among the major sub-indices, the number of employees rose, and the production index, new export order index, import index and purchase price index all declined. In July, the backlog index, finished goods inventory index, import index, purchase volume index, and supplier delivery time index were below the 50 tipping point, while other subindexes were above 50.
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