China July factory surge cools moderately as export orders descend

China July factory surge cools moderately as export orders descend

In July, surge in China's manufacturing sector slowed, backing hopes that the world's second-largest economy will probably drops in the nearer months because borrowing costs ascend along with regulators weigh on riskier types of financing.

Published on Monday, the official Purchasing Managers' Index showed d51.4 in July, sliding from the previous month's outcome of 51.7, though it was still above the 50-point level, separating surge from contraction on a monthly basis.

Experts polled by Reuters had predicted that the outcome would be 51.6, nearly the same as June’s reading.

China reported stronger-than-expected economic surge of 6.9% for the first half, powered by a year-long construction boom, robust retail sales and resurgent exports.

In July, the sub-index for the construction sector tacked on to 62.5 from June’s reading of 61.4, as the PMI survey by the National Bureau of Statistics revealed.

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