Manufacturing Activity Shows Signs of Weakness

According to the latest report from the China Federation of Logistics and Purchasing (CFLP), China's manufacturing sector experienced a slight contraction in July. The National Bureau of Statistics (NBS) compiled data reveals a dip in the Purchasing Manager's Index (PMI) from 49.7 in June to 49.3, falling short of market expectations.

Non-Manufacturing Sector Also Sees Marginal Decline

In parallel, the official non-manufacturing PMI for July also witnessed a slight decrease, moving from 50.5 in June to 50.1. This indicates a broader trend of economic softening across sectors.

The data underscores the challenges facing China's economy as it navigates through a period of slight contraction, with both manufacturing and non-manufacturing sectors showing signs of strain.