China’s Manufacturing Purchasing Manager’s Index Dips

Economy

China’s official manufacturing Purchasing Managers’ Index (PMI) hit 50.4 in July, down from 50.9 in June and 51.1 in July last year, official data from China’s National Bureau of Statistics showed.

This was the lowest level since the Covid-driven economic slump of February 2020, but still above the 50.0 mark that separates growth from contraction.