Jul
31
China Factory Gauge Signals Deterioration as Property Boost Ebbs
ByChina’s official factory gauge unexpectedly fell below the dividing line between improvement and deterioration, signaling a debt-fueled growth rebound may be losing steam.
The manufacturing purchasing managers index fell to 49.9 last month, the statistics bureau said Monday, below June’s 50, which was also the median estimate in a Bloomberg survey of economists. The non-manufacturing PMI was at 53.9 compared with 53.7 in June. Numbers below 50 indicate conditions are getting worse.
The sub-50 reading was the first since February, casting doubt on the durability of an economic stabilization that’s been boosted by a property market recovery and state-led investment…
China Factory Gauge Signals Deterioration as Property Boost Ebbs
