After the rain, containers were reflected in puddles after rain at Yantian port in Guangdong Province, China.
Tingshu Wang | Reuters
Beijing – Official meter of China’s official manufacturing activity showed a higher contraction in July than expected due to economic growth and ongoing U.S. trade tensions.
A poll from a poll showed that the manufacturing purchasing manager index was 49.3, with insufficient expectations for 49.7.
China’s official manufacturing PMI is below the 50 mark, reflecting contraction rather than expansion. Since April.
U.S. – China’s tensions escalated in April, with both sides imposing more than 100% tariffs on imports of another commodity. Both sides agreed in May to back off most of the additional 90-day duties.
The truce will expire in mid-August. Representatives of the world’s two largest economies held a meeting this week in Stockholm No extension of the agreement was announcedthis is widely expected.
In the Manufacturing PMI, the sub-index indicates that employment, new orders and raw material lists were also signed in July. From 47.9 in June, the job index is at a maximum of 48.
National Bureau of Statistics Attributable to the decline in manufacturing PMI In July, the traditional off-season and factors such as extreme heat and heavy rain in parts of the country.
According to state media, at least 30 people died in suburbs of Beijing this week in the latest extreme weather as the city issued the highest red alert for heavy rain.
China’s Exports rose by 5.8% in JuneCustoms data showed earlier this month that it was not just offsetting the decline in exports to the United States.
China’s top leaders did not express new stimulus plans at a senior Politburo meeting on Wednesday, although the country has been increasing subsidies to encourage people to have more children.
– Anniek Bao of CNBC contributed to this report.
