China’s manufacturing slumps, dragging down Asia factories

China’s manufacturing slumps, dragging down Asia factories
Data showed a decline in China’s factory activity last month. (Image: Getty)
Bloomberg
China’s manufacturing contracted in July, rippling through factories across Asia and signalling any turnaround in the region could still be far off.The Caixin manufacturing purchasing managers index declined to a six-month low of 49.2 in July from 50.5 in June, below the key 50 level that marks a contraction, a private survey showed on Tuesday. The official manufacturing PMI released on Monday also showed a decline in China’s factory activity last month.  China’s faltering recovery weighed on Asian manufacturing powe...

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