China is set to see another set of Purchasing Manager’s Index readings on Tuesday as Caixin and IHS Markit announce indicators amid concerns about slowing growth in the world’s second-largest economy.
In June, the Caixin manufacturing PMI came in at 50.4, up from May’s 49.6, which was an 11-month low.
Levels above 50 signal an expansion, while levels below 50 indicate contraction.
Caixin’s survey tracks small and medium-sized enterprises instead of the large companies and state-owned enterprises (SOEs) on which the official gauge focuses.
China reported Monday that its official manufacturing PMI for the month of July came in at 51.4 — just shy of expectations. Official services PMI meanwhile fell to 54.5 in July from 54.9 in June.
China reported second-quarter GDP growth of 6.9 percent that topped expectations, but market watchers are expecting the economy to slow due to tightening policies in the property market and the government’s deleveraging campaign
—CNBC’s Leslie Shaffer contributed to this report.
Source: cnbc china
The official gauge missed expectations, but investors are watching this take on Chinese growth