China July official factory PMI falls to 51.2, below expectations
BEIJING (Reuters) - Growth in China's manufacturing sector cooled for the second straight month in July, official data showed on Tuesday, a sign factories face challenges as the trade dispute between Beijing and Washington worsens. The official Purchasing Managers' Index (PMI) released on Tuesday fell to 51.2 in July, from 51.5 in June, but remained above the 50-point mark that separates growth from contraction for the 24th straight month. Analysts surveyed by Reuters had forecast the reading to dip to 51.3.
BEIJING (Reuters) - Growth in China's manufacturing sector cooled for the second straight month in July, official data showed on Tuesday, a sign factories face challenges as the trade dispute between Beijing and Washington worsens.
The official Purchasing Managers' Index (PMI) released on Tuesday fell to 51.2 in July, from 51.5 in June, but remained above the 50-point mark that separates growth from contraction for the 24th straight month.
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Analysts surveyed by Reuters had forecast the reading to dip to 51.3.
The survey come after the country logged a modest slowdown in its economic growth in the second quarter compared with the previous quarter, as the government's multi-year efforts to tackle debt risks begin to weigh on growth and the trade war with the United States threatens exports.
(Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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