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Economic news

China’s manufacturing activity extends decline in July

07/30/2024

Less than a minute

2024.07.30 21:47

© Reuters. FILE PHOTO: Workers wearing face masks following the coronavirus disease (COVID-19) outbreak load steel products for export to a cargo ship at a port in Lianyungang, Jiangsu province, China May 27, 2020. China Daily via REUTERS/File Photo

BEIJING (Reuters) – China’s manufacturing activity in July shrank for a third month, an official factory survey showed on Wednesday, bolstering expectations Beijing will need to launch more stimulus as a protracted property crisis and job insecurity drag on growth.

The official purchasing managers’ index (PMI) fell to 49.4 in July from 49.5 in June, below the 50-mark separating growth from contraction but beating a median forecast of 49.3 in a Reuters poll.

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07/30/2024

Less than a minute