Thought for the day

China Manufacturing Sector Recovering Momentum, but Services Sinking Fast


 
Last updated: 3 July 2024
 
China's manufacturing sector appears to be recovering quite rapidly. China's Services sector in contrast, does not seem to be doing so well, with several very low index readings registered in the month.

China’s Manufacturing Sector in August
Business Confidence and Sales Growth: August 2022
China Manufacturing Sector Recovering Momentum, but Services Sinking Fast

China's manufacturing sector appears to be recovering quite rapidly. Business Confidence rose in August to an encouraging index level of 52.1. The Sales Growth Index, comparing growth with that of a month ago, rose to a very positive 5 month high of 53.3. The Profits Index also rose almost 2 index points to the same 53.3 level.

Staffing remained subdued at close to the 50 “no change" level, and the overall SMI Index rose only marginally over the 50 mark. But overall, the general response of panel members was significantly more positive than in preceding months.

China's Services sector in contrast, does not seem to be doing so well, with several very low index readings registered in the month.

The overall Services sector Sales Managers Index came in at a 30 month low, and both the Business Confidence and Staffing Indexes recorded the lowest levels in the surveys 9 year history.

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