The Caixin/Markit manufacturing Purchasing Managers' Index for China posted a modest increase of 0.5 in July compared with a month ago, showed data from IHS Markit and Caixin Insight, buoyed by slightly higher production and improved demand.
The rising trend of Caixin PMI was in line with a 0.3 recovery in July official PMI to 49.7, which was released by the National Bureau of Statistics on July 31.
The sub-index for output returned to expansion zone above 50 last month, driven by a pick-up in buying interest, insiders said.
New order sub-index also expanded marginally, mainly as domestic purchases gained strength, they added.
Enterprises' confidence was restored to some extent over July, as Chinese economy showed signs of warming up, said Zhong Zhengsheng, president of Caixin Insight Monetta Research which is a subsidiary of Caixin and responsible for interpretation for the manufacturing PMI.
Caixin Insight is a business agency established in August of 2015 and a sister entity of Caixin Media Co., Ltd., a leading media giant in China.
IHS Markit is a world-leading financial information service provider headquartered in London, capital city of the UK.
(Writing by Jessie Jia Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.