China’s manufacturing activity contracted in July, according to results of a private survey released on Thursday.
The Caixin/Markit factory Purchasing Managers’ Index (PMI) was 49.9 in July — slightly better than expected, but still in contractionary territory.
Analysts polled by Reuters had expected the indicator to come in at 49.6. The reading for June was 49.4.
PMI readings above 50 indicate expansion, while those below that signal contraction.