China Official Factory Gauge Slips as Growth Slowdown Bites
An employee cleans residue from a container at an aluminum smelting facility in Zouping, China.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
An official Chinese factory gauge slipped to a five-month low, signaling that months of easier monetary policy have yet to kick in and putting pressure on the country’s leadership to take further action.
The official Purchasing Managers’ Index was 50 in July, compared with the median estimate of 50.1 in a Bloomberg survey and down from June’s 50.2. The non-manufacturing PMI, a measure of services and construction, was at 53.9, from 53.8 the previous month. Numbers above 50 indicate expansion.