China's July PMI Data Suggests Weak Start to 2H

Dow Jones
07/31

0339 GMT - China's July manufacturing purchasing managers' index data suggests a weak start to 2H, ING Greater China chief economist Lynn Song says in a note. The latest print was much softer than expected, with both manufacturing and non-manufacturing PMI slumping to indicate a contraction. "This signals that the recent macro slowdown may continue into the second half [of the year]," Song says. Non-manufacturing PMI dropped to a 43-month low, and is a bad sign amid China's recent to push to release the potential of services consumption, he adds.

 

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