Manufacturing sector grows for 12th straight month in China

A monthly measure of China’s manufacturing sector grew for the 12th straight month in July, the Government-run Xinhua news agency reports.

The manufacturing purchasing managers’ index (PMI) was 51.4 last month, moving downwards from 51.7 in June. A reading above 50 indicates expansion, while a reading below reflects a contraction.

The index has remained between 51 and 52 for the past seven months and last month’s reading was about the same as the average reading for the first half of the year, National Bureau of Statistics senior statistician Zhao Qinghe was quoted as saying.

While manufacturing activity contracted last month, firms continued to increase purchases with renewed confidence about future growth, Zhao said on Monday.

The bureau said the non-manufacturing PMI stood at 54.5 last month, down from 54.9 in June.