China Caixin PMI Manufacturing rose to 52.8 in July, up from 51.2, beat expectation of 51.3. Caixin said the data “signal a further improvement in the health of China’s manufacturing economy”. Also, “operating conditions have now improved in each of the past three months, with the latest upturn the strongest since January 2011.”
Wang Zhe, Senior Economist at Caixin Insight Group said: “Overall, flare-ups of the epidemic in some regions did not hurt the improving trend of the manufacturing economy, which continued to recover as more epidemic control measures were lifted. The supply and demand sides both improved, with relevant indicators maintaining strong momentum. However, we still need to pay attention to the weakness in both employment and overseas demand.”
