China Caixin manufacturing PMI slips into contraction for first time in 3 months

A private gauge of China’s factory activity tumbled into contraction in July, weighed down by slower output and weaker market demand.

The China Caixin manufacturing purchasing managers index fell to 49.2 in July from 50.5 in June, according to data released Tuesday by Caixin Media Co. and S&P Global.

It was the first time in three months that the Caixin manufacturing PMI slipped below the 50 mark, which separates activity expansion from contraction.

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