Markit Czech July manufacturing sentiment drops below forecast

Markit Czech July manufacturing sentiment drops below forecast

"Upcoming PMI releases will show whether underlying conditions remain on the downside or if July's contraction was a temporary blip", Lima stated in the report.

But the broad consensus among China watchers is that economic growth will cool in coming months as a government crackdown on financial risks raises borrowing costs for businesses and squeezes profits.

High-tech and equipment manufacturing led the expansion in July, with their sub-indexes higher than the overall sector's PMI.

The introduction of GST (Goods and Services Tax) seems to have weighed heavily on the Indian manufacturing sector in July.

The Caixin-IHS Markit survey was broadly in line with the government's official manufacturing PMI index for July which came in at 51.4 in July.

In a separate report, the National Association of Realtors said on Monday, pending home sales, or signed contracts to buy previously owned homes, rose 1.5% in June from the previous month. On a yearly basis, growth accelerated to 2.1 percent from 1.9 percent a quarter ago. The manufacturing PMI fell to 56.6 from a 74-month high of 57.4 in June.




James Smith, an economist at ING, added: "Wider economic data, from the weak second-quarter growth reading to the latest dip in consumer confidence, suggests that the economy is losing speed".

French manufacturing activity held close to a six-year high in July as political uncertainty dissipated after the presidential election, a survey showed on Tuesday.

Economists say that the official PMI skews more heavily toward big state companies while Caixin's better captures the private sector.

CHINA'S manufacturing activity eased slightly last month amid hot weather and flooding. New order growth also slowed.

"It's hard to avoid volatility at such a relatively high level", Chen said, noting that PMI has hovered above 51 for 10 months in a row. It is due to be released on Tuesday.

Markets in Asia finished higher on Tuesday, with investors digesting strong manufacturing data out of China, as the ongoing political instability in the U.S. appeared to become more pronounced overnight. "The continuous ascent in prices suggests to us a longer industrial recovery".

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