Beijing – Saba:
Data from China’s National Bureau of Statistics released Thursday showed that manufacturing activity contracted for the fourth consecutive month in July.
This indicates that the earlier surge in exports ahead of the U.S. tariff hikes is fading, while domestic demand remains sluggish.
According to the data, the official Purchasing Managers’ Index (PMI) fell to 49.3 in July from 49.7 in June, staying below the 50-point mark that separates expansion from contraction. This is the lowest reading since April.
| more of (International) |