China's factory recovery accelerates in July: PMI

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[BEIJING] China's factory activity expanded in July for the fifth month in a row and at a faster pace, beating analyst expectations despite disruptions from floods and a resurgence in coronavirus cases around the world. Read more at The Business Times.

A Reuters poll this month has forecast gross domestic product to expand 2.2 per cent in 2020, up from 1.8 per cent projected in the last poll in April, with recently improving data underpinning the more upbeat outlook.

Imports in June rose for the first time since the health crisis hit the economy, as government stimulus stoked demand for commodities, while exports, fuelled by medical goods, also rose in a sign the recovery is gaining traction.

 

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