China July Factory Growth Cools Slightly as Export Orders Ease
BEIJING — Growth in China’s manufacturing sector slowed marginally in July, reinforcing expectations the world’s second-largest economy will cool in coming months as borrowing costs rise
and regulators clamp down on riskier types of financing.
The official Purchasing Managers’ Index (PMI) released on Monday stood at 51.4 in July, down from the previous month’s 51.7 but still well above the 50-point mark
that separates growth from contraction on a monthly basis.
China posted stronger-than-expected economic growth of 6.9 percent in the first half,
fuelled by a year-long construction boom, resurgent exports and robust retail sales.
The sub-index for the construction sector rose to 62.5 in July from 61.4 in June, the PMI survey by the National Bureau of Statistics showed.
