China’s factory activity unexpectedly contracts for first time in nine months amid soft demand conditions

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An official data released on Wednesday, showing that the Caixin China General Manufacturing PMI slipped to 49.8 in July 2024 from 51.8 in June, missing market forecasts of 51.5, marking the first fall...

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Clients’ subdued spending budgets resulted in sluggish demand. Sales of consumer products outperformed those of investment and intermediate goods. External demand continued to grow, but at a slightly slower pace. Overall, demand from overseas markets was stable,\" said Wang Zhe, Senior Economist at Caixin Insight Group. \"The most prominent issues are still insufficient effective domestic demand and weak market optimism. Therefore, policy efforts should focus on stabilizing growth, improving employment, safeguarding people’s livelihoods, intensifying policy stimulus, ensuring effective implementation of previous policies, and unleashing market vitality,” he added.  ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE). Currency: (CNY:USD) More on China  China's factory activity shrinks for third month, services activity rise least in eight months PBOC unexpectedly cuts LPR rates and short-term policy rates to bolster economic recovery China retail sales growth slumps unexpectedly in June; industrial output growth beats estimates China's Q2 GDP growth slows to 4.7% below estimates amid property downturn, weak domestic demand China's consumer inflation rate softens in June amid weak domestic demand; PPI falls by 0.8%","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2456554120"}