(AI) Caixin Weekly | Manufacturing Sector Expected to Rebound from Low Levels
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By Yu Hairong, Caixin Weekly
2023年7月，中国制造业景气再度收缩，服务业扩张加速，经济修复动能继续走弱。不过，随着稳增长、稳预期措施陆续出台，制造业企业预期低位回升。
In July 2023, China's manufacturing sector contracted once again, while the service sector expanded at an accelerated pace. The momentum for economic recovery continued to weaken. However, with the implementation of measures to stabilize growth and expectations, the outlook for manufacturing businesses rebounded from a low point.
近日公布的7月财新中国制造业采购经理人指数（PMI）录得49.2，下降1.3个百分点，时隔两月再次收缩；财新中国服务业PMI微升0.2个百分点至54.1。制造业景气降幅大于服务业升幅，拖累财新中国综合PMI下降0.6个百分点至51.9，为2月以来最低。（可视化呈现财新中国PMI指标走势，见《【数据深阅读】制造业再度收缩 稳增长政策措施仍待细化》）
The recently released Caixin China Manufacturing Purchasing Managers Index (PMI) for July registered at 49.2, a decrease of 1.3 percentage points, marking a contraction after two months; the Caixin China Services PMI rose slightly by 0.2 percentage points to 54.1. The decline in manufacturing sentiment was greater than the rise in services, dragging down the Caixin China Composite PMI by 0.6 percentage points to 51.9, its lowest since February. (For a visual representation of the trend in Caixin's China PMI indicators, see "Deep Reading on Data: Manufacturing Contracts Again as Stability Measures Await Further Refinement.")
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