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China non-manufacturing PMI hits 49 in July
In July, the Non-Manufacturing Purchasing Managers' Index (PMI) in China declined to 49, down from 50.2 in June, indicating a slowdown in the sector's economic activity. The construction sector registered a reading of 47, with decreased market demand contributing to the decline, as new orders fell to 40.1 in construction and 45.2 in services. However, business activity expectations in the construction sector rose to 51.8, and sector services expectations remained steady at 56. Although the index reading points to an overall contraction in the non-manufacturing sector, there is some optimism regarding future prospects.
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