China’s factories may lose momentum in July – Reuters poll

According to the latest Reuters poll of 29 economists, the Chinese manufacturing sector expansion is likely to ease in July, mainly driven by the devastating floods and coronavirus resurgence.

Key findings

“The official manufacturing Purchasing Manager’s Index (PMI) is expected to ease to 50.7 in July from June’s three-month high of 50.9.

Factories could have a tough time maintaining momentum as pent-up demand wanes and heavy flooding across large swathes of China disrupts economic activity.

A Reuters poll this month has forecast GDP to expand 2.2% in 2020, up from 1.8% projected in the last poll in April, with recently improving data underpinning the more upbeat outlook.”

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