The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing announced today the July China Purchasing Managers' Index. The manufacturing industry is slowing down due to seasonal factors. The equipment manufacturing industry and the high-tech manufacturing industry continue to expand. Manufacturing operations are slowing down and new momentum continues to expand. China's manufacturing purchasing managers' index in July was 49.2%, down 1.1 percentage points from the previous month. Judging from historical data, due to seasonal factors such as high temperatures, rain, and typhoons, the manufacturing purchasing managers' index declined month-on-month in July in most years. Judging from the sub-indices, domestic and foreign market demand for the manufacturing industry slowed in July. The production index is 49.9%, close to the 50% critical point, indicating that the production side of China's manufacturing industry is resilient and still has a stable foundation for operation under the influence of extreme weather. Huo Lihui, chief statistician at the Service Industry Research Center of the National Bureau of Statistics, analyzed that from an industry perspective, the production index and new order index of industries such as general equipment, computer communication and electronic equipment are all higher than 53%. Market activity in related industries is high, and production and demand are growing rapidly. In July, the purchasing managers' indices for the equipment manufacturing industry and the high-tech manufacturing industry were 51.4% and 53.3% respectively, which was significantly higher than the overall manufacturing industry. They maintained a relatively rapid expansion, driving the development of the manufacturing industry to the next level. Experts said that although extreme weather has had an impact on business operations, logistics and transportation, etc., the new momentum of China's manufacturing industry has maintained a good expansion trend. Ma Zengrong, vice president and secretary general of the China Federation of Logistics and Purchasing, explained that the new momentum not only continues to maintain a positive development trend, but also continuously strengthens resilience to risks, effectively hedge against fluctuations in traditional industries, and deepens the high-quality development of the economy. Looking at price-related indices, due to factors such as recent price fluctuations in some commodities, the raw material purchase price index has been declining for four consecutive months, and the overall rise in raw material prices in the manufacturing industry has continued to slow. Judging from market expectations, the expected index of production and operation activity in July was 54.1%, running above 54% for 2 consecutive months, indicating that manufacturing companies maintained stable and optimistic expectations for the future market. Experts said that as the impact of extreme weather subsides, the production capacity and supply chain operation of enterprises in the affected regions returned to normal in the early stages, and market demand was released steadily. It is expected that the manufacturing industry will have a good basis for steady recovery in August.

The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing announced today the July China Purchasing Managers' Index. The manufacturing industry is slowing down due to seasonal factors. The equipment manufacturing industry and the high-tech manufacturing industry continue to expand. Manufacturing operations are slowing down and new momentum continues to expand. China's manufacturing purchasing managers' index in July was 49.2%, down 1.1 percentage points from the previous month. Judging from historical data, due to seasonal factors such as high temperatures, rain, and typhoons, the manufacturing purchasing managers' index declined month-on-month in July in most years. Judging from the sub-indices, domestic and foreign market demand for the manufacturing industry slowed in July. The production index is 49.9%, close to the 50% critical point, indicating that the production side of China's manufacturing industry is resilient and still has a stable foundation for operation under the influence of extreme weather. Huo Lihui, chief statistician at the Service Industry Research Center of the National Bureau of Statistics, analyzed that from an industry perspective, the production index and new order index of industries such as general equipment, computer communication and electronic equipment are all higher than 53%. Market activity in related industries is high, and production and demand are growing rapidly. In July, the purchasing managers' indices for the equipment manufacturing industry and the high-tech manufacturing industry were 51.4% and 53.3% respectively, which was significantly higher than the overall manufacturing industry. They maintained a relatively rapid expansion, driving the development of the manufacturing industry to the next level. Experts said that although extreme weather has had an impact on business operations, logistics and transportation, etc., the new momentum of China's manufacturing industry has maintained a good expansion trend. Ma Zengrong, vice president and secretary general of the China Federation of Logistics and Purchasing, explained that the new momentum not only continues to maintain a positive development trend, but also continuously strengthens resilience to risks, effectively hedge against fluctuations in traditional industries, and deepens the high-quality development of the economy. Looking at price-related indices, due to factors such as recent price fluctuations in some commodities, the raw material purchase price index has been declining for four consecutive months, and the overall rise in raw material prices in the manufacturing industry has continued to slow. Judging from market expectations, the expected index of production and operation activity in July was 54.1%, running above 54% for 2 consecutive months, indicating that manufacturing companies maintained stable and optimistic expectations for the future market. Experts said that as the impact of extreme weather subsides, the production capacity and supply chain operation of enterprises in the affected regions returned to normal in the early stages, and market demand was released steadily. It is expected that the manufacturing industry will have a good basis for steady recovery in August.