China's Manufacturing PMI down to 51.4

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Monday, Jul 31 2017

China's Manufacturing PMI down to 51.4

The Chinese economy expanded at a slower but steady pace in July, with broad measures of manufacturing and services continuing to show progress. Beijing’s official manufacturing purchasing managers’ index (PMI), which focuses on large and state-run companies, dipped to 51.4 in July. That was a slightly bigger drop than the consensus forecast, which called for a decline to 51.6.

A separate gauge of China’s services sector also strengthened in July. The official non-manufacturing PMI fell to 54.5 after climbing to 54.9 the previous month. On the PMI scale, 50 separates expansion from contraction. A total of 4,200 purchasing managers are consulted on the monthly PMIs.

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