China manufacturing sector easing - UOB

Analysts at UOB explained that China’s manufacturing sector eased unexpectedly in July.

Key Quotes:

"China’s manufacturing sector eased unexpectedly in Julyas orders cooled and flooding disrupted business, as the official Purchasing Managers’ Index (PMI) eased to 49.9 in July from 50.0 in Jun.

The official PMI for the services sector was more upbeat, showing growth accelerated to 53.9 in July from 53.7 in June.

However, a separate, private Caixin manufacturing PMI index picked up to 50.6 reading, which was stronger than expectation of 48.8, from 48.6 in Jun, and the first expansion since February 2015."