China’s manufacturing sector deteriorated slightly in July, confounding expectations for a recovery as the government steps up support for the weakening economy.
The country’s official purchasing mangers’ index, an important gauge of industrial activity, inched down to 50.1 in July from 50.2 in June, just above the 50 line which separates expansion from contraction. Wednesday’s PMI reading indicates that China’s factories have made a slow start to the second half of the year.
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