The official gauge of China’s manufacturing activity improved slightly in July but remained in contraction for the fourth straight month, pointing to continued weakness in the world’s second-largest economy.
China’s official manufacturing purchasing managers’ index rose to 49.3 in July from 49.0 in June, the National Bureau of Statistics said Monday. A reading above 50 indicates an expansion in activity while a reading below it indicates a contraction.
The result was above the forecast of 49.0 by a Wall Street Journal poll of economists.
China’s nonmanufacturing PMI, which covers both service sector and construction activity, fell to 51.5 in July from 53.2 in June, the statistics bureau said.
