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China July PMI continues its decline to 50.7

08-01-2011 13:55 BJT

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Fresh economic data shows China's manufacturing sector continued to expand for a 29th consecutive month. However, the official Purchasing Managers' Index continued its decline in July, coming in at 50.7, down from June's 50.9.

That figure is higher than a median projection of 50.1, and importantly, comes in above the threshold of 50, which separates growth from contraction.

Meanwhile, the sub-index for input prices, a measure of how much factories pay for raw materials and intermediary goods, fell to 56.3 in July from June's 56.7, suggesting easing inflationary pressures.

In this photo taken on Monday, July 11, 2011, female employees work in a factory making bamboo-fabric clothes in Zouping county in east China's Shandong province. China's manufacturing slowed further in July as Beijing cooled an overheated economy and demand for exports weakened amid Europe's debt crisis and sluggish U.S. growth, two surveys showed Monday. (AP Photo)

Analysts point out July marks the fourth consecutive decline in PMI, indicating China's economy is still adjusting. They say the pace of the nation's growth is moderating, and authorities should keep a close eye on trends including consumption, investment and export. Meanwhile, analysts also suggest the country strengthen its economic structure reform.

Editor:Li Wanran |Source: CNTV.CN

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