Factory activity in China slipped to a five-month low in July, but activity in the services sector continued to rise, an official survey showed.
China’s National Bureau of Statistics announced on Saturday the Purchasing Managers’ Index (PMI) for the manufacturing sector in China stood at 50 points in July, down from 50.2 in June. Readings above 50 indicate expansion in activities.
The non-manufacturing PMI, meanwhile, rose to 53.9 in July from 53.8 in the previous month, the statistics bureau added.
Zhao Qinghe, a senior statistician at the bureau, said in a statement accompanying the release of the results that the fall in the July manufacturing PMI was due to factors including stormy weather and weak demand.
But he added: “The market prospect in the next three months – of the manufacturing enterprises – [is for] rises.”
Last week, the Politburo, a top decision-making body in China, said the Central Government would pay close attention to downward economic pressures and would also control systemic risks, reported Xinhua, an official Chinese news agency. The Central Government would step up targeted measures in support of the economy, the outlet added.