1 Aug 2017
Guangdong Manufacturing PMI (2017/07)
Guangdong Manufacturing PMI rose by 1.1 percentage points to 52.1 in July, largely due to increases in the indexes of output and new orders. Both the indexes of output and new orders were at their highest level since January 2014 after staying at the expansion zone for 17 consecutive months. However, fluctuation of the indexes of raw material inventories, employment and supplier deliveries around the 50-mark suggested that downward pressure still exists in Guangdong’s manufacturing sector.
Note: The Guangdong manufacturing PMI is a composite index based on the diffusion indexes for the five major components: output, new orders, raw material inventories, employment, supplier delivery times. A PMI reading above 50 indicates that the manufacturing economy is generally expanding; below 50 indicates that it is generally declining.