CXSE - China NBS manufacturing shrinks for fourth straight month to 49.3 in July

2023-07-31 01:17:35 ET

• The official NBS Manufacturing PMI rose to 49.3 in July of 2023 from 49 in June, exceeding market forecasts of 49.2.

• However, the latest print pointed to the fourth straight month of drop in factory activity, amid a rapidly faltering post-pandemic recovery, with new orders (49.5 vs 48.6 in June) and export sales (46.3 vs 46.4) falling for the fourth month in a row while buying activity dropped at a softer rate (49.5 vs 48.9).

• The official NBS Non-Manufacturing PMI for China declined to 51.5 in July 2023 from 53.2 a month earlier. While pointing to the seventh consecutive month of increase in services activity following the removal of pandemic curbs by Beijing late last year, the latest result was the softest pace in the sequence.

• The NBS Composite PMI Output Index in China was down to 51.1 in July 2023 from 52.3 in the previous month. It was the lowest figure since December 2022, amid sluggish economic recovery after Beijing removed strict pandemic measures late last year.

• ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).

• Now read: China pledges to expand consumption amid weak demand

For further details see: