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China's Non-manufacturing PMI Edges Down in July

2024/8/14

The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.2 in July, down from 50.5 in June, official data showed.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The data revealed that the service sector sub-index reading stood at 50 in July, down from 50.2 in June, according to data from the National Bureau of Statistics (NBS).

A meeting of the Political Bureau of the Communist Party of China Central Committee was held on August 6, which underscored efforts to expand consumption. The meeting highlighted service consumption as a key factor in the expansion and upgrading of overall consumption. (Xinhua)



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