China factory activity slows in July
Chinese factory activity weakened in July to its lowest level since the start of the pandemic, data showed Saturday, as manufacturing was impacted by slowing demand, weak exports and extreme weather.
The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity in the world's second-largest economy, dropped to 50.4 in July from June's 50.9, the National Bureau of Statistics said.
A PMI reading of over 50 indicates expansion, while below that figure suggests contraction.
The reading appeared to be levelling out between April and June, and July shows the first marked decline, making it the lowest PMI figure since February 2020, analysts said.