China’s manufacturing slumps, dragging down Asia factories

Data showed a decline in China’s factory activity last month. (Image: Getty)

Wed, 02 Aug 2023

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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