In July, the outlook for China's manufacturing industry declined, with a contraction in new orders and a significant slowdown in output growth.
Data released on August 1st showed that the Caixin China Manufacturing Purchasing Managers' Index (PMI) for July was recorded at 49.8, down from the previous value of 51.8.
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China's Caixin Manufacturing PMI for July was 49.8, with a contraction in new orders