China economy growing, but at only half of official estimates – SMI survey

Table of Contents

The SMI rose only slightly to 51.7 in July from 51.6 in June, but was a high for 2016


BEIJING (Reuters) – A survey of Chinese sales managers indicates that the economy is growing but at only about half the rate of official estimates, a private survey showed on Tuesday.

China’s economy has bottomed out and continues to grow at a low but stable pace, but a major pickup in growth is unlikely this year, according to the latest China Sales Manager Index (SMI) published by World Economics on Tuesday. The SMI rose only slightly to 51.7 in July from 51.6 in June, but was a high for 2016. As with purchasing manager indexes, readings above 50 indicate an expansion on a monthly basis, while readings below signal contraction.
July activity is slightly above the average of the last six months, World Economics said, with the consumer services sector performing better than manufacturing and heavy industry.
China on Friday reported second-quarter growth of 6.7 percent year-on-year, slightly stronger than expected and in line with the pace of expansion in the first quarter, adding to views that the economy is steadying. But official data also showed continued weakness in exports and a further slowing in investment which suggests a loss of momentum in coming months. The SMI release did not provide any other figures apart from the headline index

(Reporting by Elias Glenn; Editing by Kim Coghill)

Subscribe to China Underground and get Planet China

To be updated with all the latest news, offers and special announcements.

China-Underground includes thousands of articles on news, Chinese history, Chinese art, Chinese literature , China pictures gallery, videos, and Chinese cinema.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.





Interview with Isaac Cheng, vice-chairman of Demosistō: the Hong Kong government...

Isaac Cheng is the vice-chairman of Demosistō, currently a year three student in Sociology at Shue Yan University. He was inspired by the protests against...