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Global Market: China's factory activity contracts unexpectedly in July; metal, commodity stocks may stay under pressure
China's manufacturing activity unexpectedly slipped into contraction during July. The official manufacturing Purchasing Managers' Index fell below 50 for the first time. Non-manufacturing sectors also contracted, indicating broader economic slowdown. This data suggests policymakers may need to introduce additional stimulus measures. Weak factory data could impact global commodity and Indian metal stocks.
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caixinglobal.com
China Factory, Services Activity Shrinks on Extreme Weather, Weak Demand
The official composite PMI falls to its lowest since late 2022
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apnews.com
China’s factory activity unexpectedly slips into contraction in July
An official survey shows China's factory activity slowed in July, the first time it has contracted in in five months.
