China Economy Commodities Iron ore price

China PMIs signal construction bust

Monday 31 July 2023

Via China’s NBS.

In July, the Manufacturing Purchasing Managers Index ( PMI ) was 49.3% , an increase of 0.3 percentage points from the previous month, and the level of manufacturing prosperity continued to improve.

In July , the non-manufacturing business activity index was 51.5% , a decrease of 1.7 percentage points from the previous month, still higher than the threshold, and the non-manufacturing industry continued to expand.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.