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Cornerstone Blog China’s economy continued strong recovery from coronavirus shock in July, but challenges remain

China’s economy continued strong recovery from coronavirus shock in July, but challenges remain

August 3, 2020 by Cornerstone International Group Leave a Comment

Buoyed by a construction boom, China’s economic recovery continued apace in July, new sentiment data suggested.

The official manufacturing purchasing managers’ index (PMI) for July stood at 51.1,

with a reading above 50.0 suggesting expansion in factory output.

This was slightly better than June’s reading of 50.9 and was better than analysts’ expectations,

with the median result of a Bloomberg survey standing at 50.8.

Conducted through a survey of factory owners and purchasing managers, the PMI is a sentiment gauge.

It offers an early snapshot of the state of China’s economy during the month ahead

quizzing operators on issues like hiring, export orders, and inventory.

Read the full article here…

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Filed Under: Cornerstone Blog Tagged With: #china, #economy

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