China's economic engine kept running in July, despite a slight dip in the manufacturing sector. The latest Purchasing Managers' Index (PMI) from the National Bureau of Statistics (NBS) showed a composite output index of 50.2, a small decrease from June's 50.5.
While the overall PMI remains in expansion territory, the manufacturing sector faced challenges, dropping to 49.4. A PMI reading below 50 indicates contraction, signaling the sector's slowdown. The service and construction sectors also saw a slight retreat, registering a combined PMI of 50.2.
Unfavorable factors such as the traditional slack season, insufficient market demand, and extreme weather conditions like heat waves and floods contributed to the slowdown. NBS senior statistician Zhao Qinghe commented that these environmental factors also dampened the construction sector.
Despite these challenges, the business outlook remains optimistic, and China's economic output continues to grow, driven by resilience and adaptability in the face of seasonal hurdles.
NewspaperAmigo – Your Global News Buddy 
Despite these challenges, the business outlook remains optimistic, and China's economic output continues to grow, driven by resilience and adaptability in the face of seasonal hurdles.
