July. Chinese manufacturing activity grew and export orders strengthened despite weak US and European demand. A study on Friday showed new signs that the world’s second-largest economy is slowly recovering from a coronavir pandemic.
The monthly Purchasing Managers Index, published by China’s Bureau of Statistics and Industry Group, rose to 51.1 from June. 50.9, on a 100-point scale. Numbers above 50 indicate that activity is increasing.
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According to the National Bureau of Statistics and the Federation of Logistics and Procurement of China, the rate of new orders improved from 51.4 to 51.7. New export orders increased by 5.8 points to 48.4.
The results show that “China’s economy continues to support the recovery trend,” the federation said in a statement.
China, where the pandemic began in December, was the first economy to close in the fight against the virus and the first to try to revive business after the ruling Communist Party declared victory against the disease in March.
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The economy grew at an unexpectedly strong 3.2 percent year-on-year, or 6.6 percent in the three months to June, compared with the previous quarter.
Production is almost normal, but retail, restaurants and other service industries are struggling.
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Forecasters warn that exports will fall again later this year as the need for masks, surgical gloves and other medical supplies diminishes. This will increase the burden on Chinese consumers and government stimulus spending to keep the economic recovery going.