01 Aug '11, 3am

China's manufacturing growth slows in July

China's manufacturing growth slows in July

BEIJING: Growth in China's manufacturing activity slowed for the fourth straight month in July and inflationary pressures eased, data showed Monday, as Beijing's efforts to slow the economy take effect. The official purchasing managers' index fell to 50.7 in July from 50.9 in the previous month - the lowest level in more than two years - the China Federation of Logistics and Purchasing said in a statement. A reading above 50 indicates the sector is expanding while a reading below 50 indicates contraction. An index measuring the cost of raw materials used to make products also fell slightly to 56.3 in July from 56.7 in the previous month, the statement said, indicating that inflation -- a major bugbear for Beijing -- was easing. HSBC is due to publish its purchasing managers' index later Monday. Preliminary figures released by the British banking giant last month showed man...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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