China Factories May Lose Momentum
China’s factories may lose momentum in July.
According to the most recent Reuters poll, conducted by 29 economists, the expansion of the Chinese manufacturing industry is expected to decline in July, especially due to the impact of the devastating flood and coronavirus epidemic.
The Procurement Executive Index (PMI) is expected to decline from 50.9 in three months in June to 50.7 in July.
Factories may find it difficult to gain momentum, as demand is falling in China and heavy floods disrupt economic activity.