China's manufacturing PMI for July was 49.4%, slightly down 0.1 percentage points from the previous month

In July, the Purchasing Managers' Index (PMI) for the manufacturing industry was 49.4%, slightly down 0.1 percentage points from the previous month, indicating a stable outlook for the manufacturing industry.

In terms of enterprise size, the PMI of large enterprises was 50.5%, an increase of 0.4 percentage points from the previous month; The PMI for small and medium-sized enterprises was 49.4% and 46.7% respectively, a decrease of 0.4 and 0.7 percentage points from last month.

From the perspective of classification indices, among the five sub indices that make up the manufacturing PMI, the production index is above the critical point, while the new order index, raw material inventory index, employee index, and supplier delivery time index are below the critical point.

The production index is 50.1%, a decrease of 0.5 percentage points from last month, which is higher than the critical point, indicating a slight expansion of manufacturing production.

The new order index was 49.3%, a decrease of 0.2 percentage points from last month, indicating a decline in demand in the manufacturing market.

The raw material inventory index was 47.8%, an increase of 0.2 percentage points from the previous month, indicating that the decline in inventory levels of major raw materials in the manufacturing industry has narrowed.

The employment index was 48.3%, an increase of 0.2 percentage points from the previous month, indicating a slight rebound in the employment prospects of manufacturing enterprises.

The supplier delivery time index is 49.3%, a decrease of 0.2 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers has been extended compared to the previous month.