China’s manufacturing sector growth eased slightly in July but showed signs of stabilising, according an official survey published on Monday.
The purchasing managers’ index (PMI), designed to provide a snapshot of industrial conditions, fell to 50.7 from 50.9 in June. Although that was the fourth straight monthly decline, the reading was higher than most economists expected.
A figure above 50 denotes expansion, while a reading below that level points to contraction. At its current level, the Chinese PMI suggests that manufacturing growth has nearly stalled in month-on-month terms.
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