BEIJING (Reuters) – China’s manufacturing activity in July shrank for a third month, an official factory survey showed on Wednesday, bolstering expectations Beijing will need to launch more stimulus as a protracted property crisis and job insecurity drag on growth.
The official purchasing managers’ index (PMI) fell to 49.4 in July from 49.5 in June, below the 50-mark separating growth from contraction but beating a median forecast of 49.3 in a Reuters poll.
