(MENAFN) On Saturday, Jul. 31 figures showed that the Chinese manufacturing activity expansion last month came at the most sluggish pace since February last year, the month ahead of the beginning of the COVID-19 pandemic.
The National Bureau of Statistics (NBS) figures demonstrated that Manufacturing Purchasing Manager’s Index (PMI) in the country decreased to 50.4 last month, from 50.9 during June.
While the market projection for the index was to stand at 50.8 in the past month, the figure was the lowest in 17 months when it stood at 35.7 in February in 2020.
Manufacturing PMI gauges the activity level in the manufacturing industry, which can be a leading sign of its total performance. A figure over 50 indicates growth in the industry, below 50 shows narrowing.
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