Reported 3 days ago
China's manufacturing activity contracted in July, with the S&P Global China General Manufacturing PMI falling to 49.5, signaling a downturn due to reduced new business growth and a decline in export orders. Manufacturers are scaling back production, and there is concern that the strong growth seen in the first half of the year may not continue into the third quarter. Amidst rising operational costs and efforts to manage competition, factories have begun to reduce their workforce while business sentiment remains below average.
Source: YAHOO