China's manufacturing activity deteriorated again in July and at a steeper pace than estimated earlier, detailed result of a survey published by Markit Economics showed Wednesday.
The Markit/HSBC purchasing managers' index was at 49.3 in July, below 49.5 recorded in the flash survey result. This was, however, better than June's reading of 48.2.
An index reading above 50 indicates expansion of the sector, while a reading below 50 suggests contraction.
Production in the factory sector increased for a first time in five months in July and the pace of decline in new orders also eased.
by RTT Staff Writer
For comments and feedback: email@example.com