[Ferro-Alloys.com] China's manufacturing purchasing managers' index (PMI) rose to 51.1pc in July from June's 50.9pc, the highest level since April and a fifth consecutive month above 50pc that indicates the sector's expansion.
The national statistics bureau PMI data showed sub-indexes for production rose to 54pc in July, up by a 0.1 point, also exceeding 50pc for five consecutive months. The purchasing volume index hit 52.4pc, which was a 0.6 point higher than last month. The new order index was 51.7pc, an increase of a 0.3 point from the previous month and higher for the third consecutive month.
The export orders index remained below 50pc in July but 5.8 points higher than June, rising to 48.4pc. This was attributed to easing lockdown measures in major global economies, along with the Chinese government's policy supports coming into effect.