China's July factory activity weakens on soft demand

Beijing (AFP) July 31, 2022

China's manufacturing activity logged a surprise drop in July, official data showed Sunday, on the back of weak demand and as strict zero-Covid restrictions continue to cast a pall on growth. The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity in the world's second-biggest economy, came in at 49.0 in July, down from 50.2 June and below the 50-point mark separating gro