China’s factory activity contracts unexpectedly in July as Covid flares up ...Qatar

China’s factory activity contracted unexpectedly in July after bouncing back from Covid-19 lockdowns the month before, as fresh virus flare-ups and a darkening global outlook weighed on demand, a survey showed yesterday. The official manufacturing purchasing managers’ Index (PMI) fell to 49.0 in July from 50.2 in June, the National Bureau of Statistics (NBS) said, below the 50-point mark that separates contraction from growth and the lowest in three months. Analysts polled by Reuters had expected a reading of 50.4. “The level of economic prosperity in China has fallen, the foundation for recovery still needs consolidation,” NBS senior statistician Zhao Qinghe said in a statement on the NBS

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China’s factory activity contracts unexpectedly in July as Covid flares up ...Qatar

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