China’s factory activity unexpectedly slips into contraction in July
- HONG KONG -- HONG KONG (AP) — China’s factory activity unexpectedly slowed in July, the first such contraction in five months, weighing on the pace of broader growth for the world's second-largest economy.
- The official manufacturing purchasing managers index, or PMI, fell to 49.2 from 50.3 in June, China's National Bureau of Statistics said Friday, worse than what economists had expected.
- The sub-index on new orders fell to 48.5 in July — the lowest since 2023 — from 51.2 in June, while the sub-index for production fell to 49.9 from 51.4.
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- HONG KONG -- HONG KONG (AP) — China’s factory activity unexpectedly slowed in July, the first such contraction in five months, weighing on the pace of broader growth for the world's second-largest economy.
- The official manufacturing purchasing managers index, or PMI, fell to 49.2 from 50.3 in June, China's National Bureau of Statistics said Friday, worse than what economists had expected.
- The sub-index on new orders fell to 48.5 in July — the lowest since 2023 — from 51.2 in June, while the sub-index for production fell to 49.9 from 51.4.
Sources: ABC News