Chinese Fashion Industry Faces Fourth Month of Decline as Demand Drops

China’s industrial activity contracted for the fourth consecutive month, in the face of weak domestic and external demand. The manufacturing PMI stood at 49.3 points in July, down from 49.7 in June, according to data from China’s National Bureau of Statistics (NBS).

These figures are below the 50 threshold, which separates growth from contraction, and below the expected average of 39.7 points, according to analysts. It is also the lowest figure since April, according to Reuters news agency.

Although China and the United States agreed on Tuesday to extend their tariff truce, the NBS maintains that high temperatures, heavy rains and floods in some regions worsened the situation, which is also in the low season.

The PMI recorded its lowest figure since April in July

On the other hand, cargo volume at the ports last week was also the lowest in nearly three months, falling nearly 7% from the previous seven days.

A survey by China’s central bank also added that households have become more pessimistic in the last quarter and that their outlook for the labor market fell to its worst level on record.