Economic Indicators - In July, the manufacturing PMI index was 49.4%, a decrease of 0.1 percentage points from the previous month, indicating a slight contraction[5] - The new orders index fell to 49.3%, marking three consecutive months in the contraction zone[7] - The production index decreased to 50.1%, down 0.5 percentage points, contributing to the overall PMI decline[8] Price Trends - The factory price index dropped by 1.6 percentage points to 46.3%, while the main raw material purchase price index fell by 1.8 percentage points to 49.9%, entering the contraction zone for the first time in 13 months[3] - Consumer confidence index was reported at 86.4%, down 1.8 percentage points from the previous month, indicating weakened consumer sentiment[7] Sector Performance - The construction business activity index was 51.3%, down 1.1 percentage points, the lowest level in nearly 12 months, primarily due to declining real estate investment[17] - The service sector PMI stood at 50.0%, a decrease of 0.2 percentage points, reflecting weak performance in retail and real estate services[12] Future Outlook - The central political bureau emphasized the need to boost domestic demand, particularly consumption, to counteract insufficient effective demand[7] - The manufacturing PMI is expected to rise to approximately 49.7% in August, driven by government stimulus measures and a gradual release of the central bank's interest rate cuts[11]
2024年7月PMI数据点评：7月官方制造业PMI指数在收缩区间小幅下行，后期有望由降转升
Dong Fang Jin Cheng·2024-07-31 07:30