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Below Expectations of Chinese PMI for July

July, 31 2017
watermark Economic news

The manufacturing Purchasing Managers' Index for the month of July was at 51.4 less than the anticipated 51.6 which is lower than the 51.7 in June’s reading as shown in the polls. This was said to be influenced by bad weather conditions and some floodings in parts of the country and some scheduled maintenance in some companies. Nonetheless, both imports and exports proceed to rise from a month ago according to the National Bureau of Statistics.


In spite of a drop in the official services PMI data, the July readings were much higher than the average for the first half of the year, stated by an NBS statistician. Banks are anticipated to recover in the next few months because of rising prices including the construction sector index reaching a three year high this month.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.