china pmi index 2020

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The index dropped by 0.2 percentage points from the previous month to 54.2, but still resided in the expansion territory.The July composite PMI, which includes both manufacturing and services activity, narrowed to 54.1 from June's 54.2, suggesting a continued recovery drive in the overall production and operation of Chinese enterprises.A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, as the country is hit by the novel coronavirus outbreak, in Hangzhou, Zhejiang province, China, March 2, 2020. A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, as the country is hit by the novel coronavirus outbreak, in Hangzhou, Zhejiang province, China, March 2, 2020. It doesn’t take much to rise from such a low base.Asia Pacific chief economist at Vanguard Investment StrategyChina's latest PMI numbers reflect 'gradual resumption' of economic activityWhat does the coronavirus mean for China's economy? China's official manufacturing Purchasing Managers' Index (PMI) recorded at 50.6 in May, slightly below experts' forecast of 51.0 polled by Reuters, but it still falls in the expansion territory. 20:18, 31-Jul-2020 Workers operating in a factory in Dongguan, south China's Guangdong Province, May 20, 2020. Beijing ICP prepared NO.16065310-3Copyright © 2020 CGTN. Data is a real-time snapshot *Data is delayed at least 15 minutes. In particular, the manufacturing PMI plummeted from 50 percent to 35.7 percent, down by 14.3 points, while the non-manufacturing PMI fell even more significantly, from 54.1 percent to 29.6 percent, a decrease of 24.5 points. The China Commodity Index (CCI) gauges price changes in 32 contracts of 28 commodities traded on the country's three futures exchanges in Shanghai, the northeastern city of Dalian and Central China's Zhengzhou. A PMI above 50 indicates expansion, while one below 50 indicates contraction.The production index expanded by 0.1 percentage point to 54.0 in July, data from the National Bureau of Statistics (NBS) showed, indicating stronger recovery momentum from earlier coronavirus shutdowns.The new order index hit 51.7, an increase of 0.3 percentage points from June, rebounding for three consecutive months as manufacturing demand has gradually picked up.The import and export situation continued to improve as major global economies gradually restart economic activities, and China implemented a series of policies and measures aiming at stabilizing foreign trade, said NBS senior statistician Zhao Qinghe.However, experts warned that the resurgence of coronavirus cases outside of China threatens to undermine external demand.Liu Chunsheng, associate professor at the Central University of Finance and Economics in China, predicted more policy inclinations towards prompting domestic demand amid the uncertainty.He emphasized that the control of the epidemic is the prerequisite for economic recovery, while suggesting that China should strengthen trade ties with countries less affected by the virus, like the Association of Southeast Asian Nations and those along the Belt and Road Initiative. PMI readings above 50 indicate expansion, while those below that level signal contraction.Sub-indices for production, new orders and employment expanded, the bureau said.The bureau attributed the expansionary PMI reading to the low base in February, but cautioned that it does not mean that the country's economic activities have returned to normal levels.Earlier this year, manufacturing activity slowed dramatically in China as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease, formally known as COVID-19.Qian Wang, Asia Pacific chief economist at Vanguard Investment Strategy, said March's manufacturing PMI reading was "totally expected" as activity improved during the month. A PMI above 50 indicates expansion, while one below 50 indicates contraction. China's manufacturing Purchasing Managers' Index (PMI) stood at 51.1 in July, beating expectations and landing in expansion territory for the fifth straight month, official data showed on Friday.Reuters had forecast July factory activity to ease to 50.7. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. "We had upgraded Chinese GDP for this year about two months ago to 2.3 percent, so that partly reflects our belief, you know, the domestic demand and external demand will help to sustain a recovery of Chinese growth to 5 to 6 percent in the second half of the year." /VCG. That showed that the rapid pace of recovery in the services sector was slowing as the initial boost from re-opening businesses faded.The sub-index measuring business activity in the service sector fell to 53.1 from 53.4, while the sub-index measuring construction activity rose to 60.5 from June's 59.8. "The seemingly strong readings in the March PMIs do not mean Beijing will be complacent. The data are based on the replies to monthly questionnaires sent to purchasing executives at 4,000 companies in 37 non-manufacturing sectors.Chang Jian, Asia Pacific chief China economist at Barclays, said in an interview with Bloomberg that "it is clearly another positive surprise in the China data that we saw this morning." Global Business and Financial News, Stock Quotes, and Market Data and Analysis.In February, the Chinese economy was at a full stop. Zhao said that business was disrupted by floods around the Yangtze River as factories have seen equipment and inventory soaked and transportation blocked.The service and the cultural industry ended its five-month contraction in July, with the cultural sector index rising 6.1 percentage points to 51.9, thanks to China's relaxation of lockdown measures in low-risk areas.The non-manufacturing PMI expanded at a slower pace, suggesting consumer confidence was recovering. Reuters had forecast July factory activity to ease to 50.7. BEIJING (China Daily/ANN): The purchasing managers' index (PMI) for China's manufacturing sector rose to 51.1 in July from 50.9 in June, the …

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