Surveys give mixed China manufacturing picture

Surveys show mixed picture for China manufacturing in July

Associated Press

HONG KONG (AP) -- New figures on Chinese manufacturing suggest the world's No. 2 economy might still be slowing.

An official survey showed a slight improvement in July while another index fell to its lowest in nearly a year.

The China Federation of Logistics and Purchasing said Thursday its manufacturing index strengthened to 50.3 from June's 50.1.

The index uses a 100-point scale and numbers below 50 indicate a contraction.

Meanwhile, a private survey found that activity fell to the lowest in 11 months.

HSBC's purchasing managers' index fell to 47.7 last month from 48.2 in June. The reading confirmed a preliminary version released last month.

Analysts say the federation's survey mostly covers big state-owned enterprises while the HSBC survey is more geared to small and medium private companies.

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