丝袜脚交免费网站xx-国产91丝袜在线播放-国产视频一区二区三区在线观看-午夜美女视频-午夜爽爽视频-制服丝袜先锋影音-天天躁日日躁狠狠躁喷水-日韩综合一区二区三区-99思思-日本体内she精视频-欧美精品免费播放-日韩欧美国产不卡-一级在线免费观看视频-韩国午夜理伦三级在线观看按摩房-伦乱激情视频

Economic Watch: China's factory, service activities continue to expand

Source: Xinhua| 2018-07-31 19:12:57|Editor: ZX
Video PlayerClose

BEIJING, July 31 (Xinhua) -- Expansion of China's factory and service activities slowed down in July but still pointed to steady economic growth.

The purchasing managers' index (PMI) for China's manufacturing sector came in at 51.2 this month, down from 51.5 in June, the National Bureau of Statistics (NBS) said Tuesday.

Activities of the country's non-manufacturing sector also expanded at a slower pace in July, with its PMI standing at 54, compared with 55 in June.

Though PMIs for both sectors dropped compared with the previous month, they still pointed to steady expansion as a reading above 50 indicates expansion, while a reading below reflects contraction.

The PMI for the manufacturing sector has remained above 51 for five consecutive months while that for the non-manufacturing sector has maintained at or above 54 for 11 months in a row.

"While there are some fluctuations in PMI figures, China's factory and service activities are still stable, indicating steady economic growth momentum," NBS senior statistician Zhao Qinghe said.

Zhao attributed the slight drops in July's PMI figures to bad weather conditions, escalating trade tensions, and a slack season for some sectors.

Hot weather and rainy days affected some mining and construction firms, while trade frictions weighed on export enterprises by dampening new orders.

However, the sub-index for consumer products manufacturing picked up in July thanks to consumers' increasing purchase power as their disposable income rises.

Meanwhile, NBS data also showed that pressure of rising costs for some firms eased and supply conditions for financing and labor force improved this month.

China has issued a string of measures to support the real economy in the past few weeks. The central bank and other financial regulators published more pragmatic execution guidelines for the wealth management industry and encouraged banks to allocate more on credit bonds, while the State Council called for more accommodative fiscal policies.

The PMI for the manufacturing sector is expected to rebound in the future as the government's supportive policies gradually take effect and influence of seasonal factors fades, according to Lian Ping, chief economist with Bank of Communications.

China's economy expanded 6.8 percent year on year in the first half of this year, above the annual target of around 6.5 percent.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001373597481