In July, The PMI Of Caixin China's Service Industry Dropped To 51.6, The Lowest In Five Months.

In August 5th, Caixin China's general service industry activity index (PMI) recorded 51.6 in July, down 0.4 percentage points from June, the lowest in five months. 　　

Previously announced in July, Caixin China's manufacturing industry PMI rose to 49.9, two industries PMI one liter and one drop, in July, Caixin China integrated PMI recorded 50.9, higher than 0.3 percentage points in June. 　　

The trend of PMI and PMI of Caixin service industry is consistent with that of Statistics Bureau PMI. The index of business activities in service sector released by the National Bureau of statistics dropped 0.5 percentage points to 52.9 in July, and 53.1 in the consolidated PMI, slightly 0.1 percentage points. 　　

In July, the growth rate of new orders in the service sector remained strong, but there was a slowdown. The service industry said that the growth of new orders mainly benefited from the increase of new products and new customers. The total number of new orders in manufacturing industry has resumed growth. The growth rate of orders in the two industries increased by 1% and 1% respectively. The growth rate of new orders in July was higher than that in June, but the whole is still moderate. 　　

In July, the new export orders of service industries resumed growth, and the growth rate reached the highest level in three months. Businesses generally say strong demand abroad. The volume of new export orders of manufacturing industry continued to shrink slightly, and the total new export orders in July showed a slight increase under the stimulation of service export. 　　

The comprehensive employment scale of enterprises has contracted for three consecutive months, and the employment situation is still in the doldrums. This is mainly caused by the decline in manufacturing employment, which is affected by the slowdown in business activity and the control costs of enterprises. In July, the willingness to work in the service industry was suppressed, and the expansion rate of employment was only small. 　　

In July, the input cost of service industry rose significantly, or slightly higher than that of June. According to the respondents, the increase in cost is mainly related to the price of raw materials, fuel and labor. The cost of manufacturing input has narrowed. The total cost of the two major industries continued to rise slightly in July. 　　

The overall price fixing in July fell for the first time in six months, due to a slight drop in the producer price. The price increase of service enterprises is still slight. Many enterprises say that the market competition is fierce and the overall pricing power is constrained. 　　

In July, manufacturing confidence was strong and service optimism continued to grow. On the whole, the confidence of the two major industries and enterprises in the next 12 months' production and business prospects has risen to the highest level in three months. 　　

Zhong Zhengsheng, chairman and chief economist of the new financial think-tank, said that in July, China's economy showed a phased restoration and improvement, which was related to large-scale tax cuts, monetary policy and the government's investment in infrastructure investment. However, under the circumstances of tight supervision and trade frictions, the sustainability of China's economic recovery needs to be further observed. At present, China's economy is not in a state of stall and decline, and the economic slowdown is a process of fluctuation and controllability.