China Manufacturing PMI Soared To 51.1% In July

  • Jul 31, 2020 NZST
  • Team Kalkine
China Manufacturing PMI Soared To 51.1% In July

In July 2020, despite the hindrance experienced due to flood and second wave of COVID-19, there was an increase in the factory activity. This boosted the official manufacturing Purchasing index from 50.9% in June to 51.1% in July 2020.

China was able to recover from the strict lockdown which was said to weaken the Chinese economy. The new export orders dropped at a lower rate as compared to June 2020. This is because of the continued pressure on external demand.

Companies also fired more employees that they hire.

 


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