Chinese factories poised for 'cruel summer' as PMI surveys raise outlook risks

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Chinese factories poised for 'cruel summer' as PMI surveys raise outlook risks - Economic Times

Quick Summary:

Industrial production growth last month may have slowed to 4.8% year-on-year from 5.3% in June, and factory-gate prices may have extended their declines, the Caixin survey said.

The Caixin survey attributed the PMI drop to the first fall in new orders in a year, with survey respondents blaming the decline on subdued demand and client budget reductions.

A private-sector survey of purchasing managers from 650 private and state-owned manufacturers published on Thursday found that operating conditions in the sector deteriorated for the first time in nine months as new orders tumbled.