China’s Non-manufacturing PMI Falls in July 2024

China's purchasing managers' index (PMI) for the non-manufacturing sector came in at 50.2 this July, reflecting a contradiction from 50.5 in June, data from the National Bureau of Statistics showed on Monday. Chinese news agency (Xinhua) quoting the data, reported that the sub-index reading for the services sector reached 50 in July, down from 50.2 recorded in June. Note that a reading above 50 indicates expansion, while a reading below 50 indicates contraction. Services related to railway transport, air transport, postal services, culture, sports and entertainment sectors witnessed rapid growth in July, while services related to retail, capital market services and real estate sectors witnessed a contraction. The construction sector sub-index reached 51.2 in July, down from 52.3 in June. Data released today also showed that China's manufacturing PMI fell to 49.4 in July. (QNA) Source: Qatar News Agency