On Saturday, the China Manufacturing Purchasing Managers' Index for July showed that activity was slipping, pointing to continued sluggishness in the country. Subindexes showed weakness across a broad front, including output as well as new orders and new export orders along with employment and prices for materials. According to the National Bureau of Statistics, the index slipped to 50.0 in July, down from 50.2 in June. A PMI reading above 50 indicates an expansion in manufacturing activity, while a reading below points to a contraction. The Chinese economy is expected to grow by 6.5% this year, according to official forecasts.
On Saturday, the China Manufacturing Purchasing Managers' Index for July showed that activity was slipping, pointing to continued sluggishness in the country. According to the National Bureau of Statistics, the index slipped to 50.0 in July, down from 50.2 in June. A PMI reading above 50 indicates an expansion in manufacturing activity, while a reading below points to a contraction. The Chinese economy is expected to grow by 6.5% this year, according to official forecasts.