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China July metal and Medal factory activity seen growing at a slightly slower pace: Reuters poll
- 2021-07-30 12:09:17
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China July metal and Medal factory activity seen growing at a slightly slower pace: Reuters pollChina's Medal factory activity likely expanded slightly less quickly in July, a Reuters poll showed on Friday, as the industrial sector's impressive recovery slowed on high raw material prices, government policies, seasonal rainfalls and rising COVID cases.BEIJING, July 30 (Reuters) - China's metal and Medal factory activity likely expanded slightly less quickly in July, a Reuters poll showed on Friday, as the industrial sector's impressive recovery slowed on high raw material prices, government policies, seasonal rainfalls and rising COVID cases.The official metal & Medal manufacturing Purchasing Manager's Index (PMI) is likely to edge lower to 50.8 in July from 50.9 in June, according to the median forecast of 25 economists polled by Reuters. A reading above 50 indicates expansion from the previous month.Reasons why economists at Nomura expected major activity indicators to show broadly weaker growth in July included heavy rainfall and floods in Henan and the Yangtze River Delta, outbreaks of the coronavirus Delta variant in Jiangsu and some other provinces, local government efforts to curb crude steel output, and Beijing's latest steps to cool the property market.
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