China’s factory activity unexpectedly contracted in July and a separate gauge covering services and construction hit its lowest level in more than three years, adding to concerns over growth in the world’s second-largest economy.
China’s official manufacturing purchasing managers’ index was 49.2 in July, the lowest level since February, when it last declined. The non-manufacturing PMI was 49, its weakest level since December 2022, with a construction gauge at just 47.
A reading above 50 marks an expansion.
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