Man­u­fac­tur­ing ex­pan­sion in China slows in July

Muscat Daily - - BUSINESS -

Bei­jing, China - China’s man­u­fac­tur­ing ac­tiv­ity fal­tered in June, of­fi­cial data showed on Mon­day, as ex­perts warn of a slow­down in the world’s sec­ond largest econ­omy.

China reg­is­tered steady growth dur­ing the first half of the year with stronger-than-ex­pected gross do­mes­tic prod­uct and ex­ports growth, but the pos­i­tive mo­men­tum will be hard to main­tain as the coun­try looks to adopt stricter fi­nan­cial reg­u­la­tions aimed at con­trol­ling the coun­try’s debt-fu­elled in­vest­ments.

The lat­est pur­chas­ing man­agers’ in­dex, a gauge of fac­tory con­di­tions, came in at 51.4 in July, the Na­tional Bu­reau of Statis­tics said, down from the 51.7 read­ing in June. Any­thing above 50 is con­sid­ered growth while a fig­ure be­low points to con­trac­tion. An­a­lysts sur­veyed by Bloomberg News had ex­pected a read­ing of 51.5. Ex­pan­sion in sup­ply and de­mand has slowed down due to ex­treme weather across the coun­try.

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