China’s manufacturing growth slows down
Beijing, China – China’s manufacturing sector expanded at the slowest rate for 17 months in July, showed a survey on Sunday, due to gradual withdrawal of monetary and fiscal stimulus by the government earlier this year and also growing uncertainty over global demands.
The output fell to 51.2 in July from 52.1 in June reports China Federation of Logistics and Purchasing.
According to analysts, the slowdow was the result of tougher steps of borrowing money from the banks. They mentioned further that the efforts to cool property prices also played an important role as it limited bank credits.
Strategist with Royal Bank of Canada in Hong Kong, Brian Jackson, said the country is now likely to watch the state of the US and European economics.
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