China July factory activity falls to 15-month low - Caixin flash PMI
China's factory sector contracted by the most in 15 months in July as shrinking orders depressed output, a preliminary private survey showed on Friday, a worse-than-expected result that should reinforce bets the struggling Chinese economy will get more stimulus. The flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 48.2, the lowest reading since April last year and a fifth straight month below 50, the level which separates contraction from expansion. Economists polled by Reuters had forecast a reading of 49.7, slightly stronger than June's final reading of 49.4. (VIEW LINK)
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