China's Factory Activity Contracts in July
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China's factory activity unexpectedly contracted in July, ending a four-month expansion streak, according to data from the National Bureau of Statistics. The official manufacturing purchasing managers' index (PMI) fell to 49.2 in July from 50.3 in June, slipping below the 50-point mark that separates expansion from contraction. The contraction was driven by a decrease in new orders, both domestic and export, as the export rush that powered a second-quarter rebound began to unwind. This development adds pressure on Beijing to boost domestic demand and roll out additional policy support to buttress growth.
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China's factory activity unexpectedly contracts in July, ending 4-mont...
China's factory activity unexpectedly contracts in July, ending 4-mont...
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