China factory activity slides in July, missing forecasts
China's factory activity slumped in July, official data showed on July 31, as leaders in the world's second-largest economy struggle to reignite domestic demand.
The manufacturing purchasing managers' index (PMI), a closely watched gauge of industrial health, fell into contraction territory at 49.2, data by the National Bureau of Statistics showed.
That was well below the 50.1 expansion forecast by Bloomberg based on a survey of economists, and also down from June's 50.3.
China's manufacturing sector has faced uncertainty this year due to the Middle East war, which has driven up global energy prices.
