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Financial News: China's Private Sector Expands Slightly In July

China's Private Sector Expands Slightly In July

08/04/2019 - 23:18:00 (RTTNews)

(RTTNews) - China's private sector continued to expand at a marginal pace in July, survey data from IHS Markit showed Monday.

The Caixin composite output index rose to 50.9 in July from 50.6 in June. A score above 50 indicates expansion in the sector.

The indicator logged a slight growth reflecting the stabilization in manufacturing output following a drop in June. At the same time, services companies reported a moderate growth.

The services Purchasing Managers' Index fell to 51.6 from 52.0 in June. This was the lowest score in five months.

"In general, China's economy showed signs of recovery in July, thanks to large-scale tax and fee cuts, as well as ongoing support from monetary policy and government-driven infrastructure investment," Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, said.

It remains to be seen if the economic recovery can continue amid trade fictions with the U.S. and rigid regulations on the financial sector and debt levels, Zhong added. The recovery in July suggests that China's economic slowdown is under control.

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