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8/2, 3:46 AM (Source: TeleTrader)
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China's manufacturing PMI slips to 15-month low in July

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) came in at 50.3 in July, according to the latest report released by the IHS Markit on Monday.

The manufacturing activity expanded at a softer rate than it did in June with this month's number 1.0 lower than the previous reading. Although a slower increase in production during the month weighed on the result, the overall rate of expansion still remained above the neutral 50, marking growth in the sector.

"The July reading was the lowest in 15 months, though it marked the 15th consecutive month of expansion. That meant while the manufacturing industry continued to grow, the rate of expansion slowed further," Senior Economist at Caixin Insight Group Dr. Wang Zhe said about the data. "The economy is still facing huge downward pressure, and we need to ensure entrepreneurs’ confidence," he added.

Breaking the News / NL