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China factory activity fell into contraction in July, data shows
The official manufacturing PMI slipped to 49.2 in July, while construction activity dropped to its lowest level since the pandemic, highlighting a widening split between sectors.
China’s factory activity unexpectedly slipped into contraction in July, the first monthly decline in five months, according to official data cited by SCMP Economy.
The official manufacturing purchasing managers’ index, or PMI, fell to 49.2 in July, missing a 50.1 median estimate from a Bloomberg poll of economists.
Construction activity also weakened, falling to the lowest level since the pandemic, pointing to a broad slowdown beyond manufacturing.
SCMP Economy said the mixed data underscores a divide in China’s economy that complicates efforts to revive overall growth.