The activity in the Chinese manufacturing sector declined in July compared to June, with the manufacturing PMI plunging below the 50.0 no change mark to stand at 49%, effectively showing contraction in one of the world's largest economies as the coronavirus pandemic continued looming over the industry, APA reports citing Teletrader.
The figure failed to meet market expectations, with all 13 sub-indexes registering a decline versus a month prior.
The non-manufacturing PMI also experienced deceleration, however with the activity still expanding albeit at a slower pace compared to the previous month. The PMI landed at 53.8% and surpassed market estimates.
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