The hottest July Caixin manufacturing PMI hit a fo

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Caixin manufacturing PMI in July hit a four month high

the Caixin China Manufacturing Purchasing Managers' index (PMI) released on Tuesday hit a four month high and remained in the expansion range for two consecutive months. Analysts said that the manufacturing industry rebounded again in July, and the economy continued the rebound of last month, but the acceleration of production activities was not transmitted to investment activities, and enterprises were relatively cautious about the recovery of future demand

720 in January 2016, China's non-ferrous metal import and export of 10.985 million tons recorded a monthly financial new PMI of 51.1, 0.7 percentage points higher than that in June. This trend is different from the manufacturing PMI previously officially announced. The manufacturing PMI released by the National Bureau of statistics was 51.4 in July, down 0.3 percentage points from the previous month

from the sub item data with the expansion of environmental protection, there are also great differences between the two manufacturing PMIS: in Caixin China's manufacturing PMI, the production index, new order index and new export order index have accelerated their expansion to the new high since February, the employment index continues to decline in the contraction range, and the purchase inventory has increased

in the manufacturing PMI of the Bureau of statistics, the production index, new order index, new export order index and raw material inventory index all fell, and the employment index rebounded slightly. Similarly, in the two manufacturing PMI, the purchase price index and ex factory price index of raw materials have rebounded significantly, and the inventory index of finished products has decreased

ZHONG Zhengsheng, chief economist of Monita research, a Caixin think tank, said that China's manufacturing sector slightly accelerated growth in July. Against the backdrop of a considerable rebound in new export orders, output and the total volume of new orders both recorded the most significant growth rate in five months. At the same time, inflationary pressures have risen, with input and output prices rising faster than in June

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however, although manufacturing production and new orders expanded in July, manufacturers continue to maintain a relatively cautious attitude towards employment, and the scale of employment has further contracted, and the contraction rate is the most significant in 10 months. At the same time, the optimism of the industry for the business outlook in the coming year has fallen to an 11 month low. Zhong Zhengsheng said

China's economic growth rate reached 6.9% in the second quarter, unchanged from the first quarter, and also exceeded market expectations. Institutions including the International Monetary Fund (IMF) and JPMorgan Chase have raised China's economic growth rate in 2017

however, analysts said that judging from the signals disclosed by the senior management, it is still doubtful whether the investment can be sustained under the background of continuous tightening of policies. The central financial work conference held earlier once again emphasized the importance of risk prevention and proposed lifelong accountability for local government debt

Zhong Zhengsheng also pointed out in his report that although the profits of industrial enterprises have improved and production activities have accelerated driven by the supply side reform and the early price recovery, this has not been transmitted to investment activities, the year-on-year growth rate of manufacturing investment has not significantly rebounded, and enterprises are relatively cautious about the future demand recovery

Yang yewei, chief Macro Analyst of Southwest Securities, told the interface that driven by the base factor, Jinan new era Gold Testing Instrument Co., Ltd. changed the experimental machine to a special instrument with a test spring in the middle of the third quarter, and the economy of the country may remain relatively stable, but the economy may face greater downward pressure in the fourth quarter, so the marginal easing of monetary policy may appear in the middle and late fourth quarter

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