The sunset glow is seen over buildings and a ferris wheel on May 13, 2022 in Beijing, China.
Vcg | Visual China Group | Getty Images
China’s factory activity contracted for a fourth consecutive month in July, while non-manufacturing activity slowed to its weakest this year as the world’s second-largest economy struggles to revive growth momentum in the wake of soft global demand.
The official manufacturing purchasing managers’ index came in at 49.3 in June — compared with 49.0 in June, 48.8 in May and 49.2 in April — according to data from the National Bureau of Statistics released on Monday. July’s reading was slightly better than the 49.2 median forecast in a Reuters poll.
Monday’s figures also showed China posting its weakest official non-manufacturing PMI reading this year, coming in at 51.5 in July — compared with 53.2 in June, 54.5 in May and 56.4 in April. This was a fourth straight monthly decline.
A PMI reading above 50 points to an expansion in activity, while a reading below that level suggests a contraction.
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