July Caixin China Service Industry PMI has been slightly promoted to maintain toughnes

July Caixin China Service Industry Business Business Activity Index (PMI) has risen slightly, showing that business activities still maintain toughness.

According to Caixin.com, the PMI of the July Caixin China General Service Industry announced on August 3 was 54.1, a slight increase of 0.2 percentage points from 53.9 in June.PMI usually uses 50 as a strong and weak boundary.More than 50 is considered to be expanded by the economy; below 50, it is considered that the economy is shrinking.

This direction is inconsistent with the service industry PMI published by the National Bureau of Statistics of China.The July non -manufacturing PMI PMI released by the National State Statistics Bureau on July 31 decreased by 1.3 percentage points to 51.5, which was dragged down by non -manufacturing PMI. The July Comprehensive PMI output index slowed down by 1.2 percentage points to 51.1.The comprehensive PMI has fallen to a new low in 2023, showing that the pace of expansion of enterprise production and operation has slowed down.

Sub -item data shows that the supply and demand of the service industry has maintained expansion.In July, the service industry operating activity index rose slightly, and the new order index rebounded in the expansion range, but the expansion momentum of external demand slowed down significantly. The new export order index fell to the lowest in nearly seven months that month, which was only slightly higher than the glory line.Some interviewed companies stated that overseas economic prospects are unknown and have a certain restriction on the export of the service industry.

The employment of the service industry has continued to improve. In July, the service industry employment index was located in the expansion range for the sixth consecutive month, and rose to the highest since March.To expand production capacity.However, it is still not enough to digest in hand orders, and the backlog workload of the service industry is still increasing.

Affected by the increase in the increase in the cost of manpower, raw materials, transportation and accommodation, the service industry investment price index was still higher than the critical point in July.However, due to the pressure of market competition, the sales price index also dropped slightly in the expansion range.

Chinese service industry companies are still optimistic about market prospects, but in July, the operating expectations index fell to the lowest in the expansion range in nearly eight months.Some companies expect that the economy at home and abroad will improve in the next year, and other companies will worry about the current global economic environment.

Wang Yan, a senior economist of Caixin Think Tank, said that in July, the cold and cold of the service industry and manufacturing industry were uneven. The low macro -prosperity and the pressure on the economic downward are still indisputable.The policy level is still important to maintain employment, stable expectations, and increasing residents' income.At present, monetary policy has limited effect on the supply side, and positive fiscal policies on demand side should become priority options.

Caixin.com ’s PMI, the PMI of the New China Manufacturing Industry, which was published on Tuesday (1 on the 1st), fell below the glory line again after a lapse of two months, showing that the manufacturing prosperity turned a deterioration.