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Chinese Manufacturing PMI Falls as Steel Sector Contracts Further

Steel

China's official manufacturing Purchasing Managers' Index (PMI) dropped to a five month low of 50.0 in July, down from 50.2 in June and on the threshold that separates expansion from contraction, National Bureau of Statistics data show. Meanwhile, according to the China Federation of Logistics and Purchasing, China's steel sector PMI remained below 50 in July, at 41.0, for the fifteenth month in succession. However, this was up from June's six year-low of 37.4, SteelFirst reports.