NOT GOOD: China's Official PMI Unexpectedly Sinks To An 8-Month Low

China’s official manufacturing PMI number unexpectedly fell to 50.1 in July.

Economists surveyed by Bloomberg were looking for an improvement to 50.5, from a seven month low of 50.2.

A reading below 50 signals contraction in the industry.

China is the second largest economy in the world, and it is the most important growth drive for the global economy. However, it is slowing and economists remain split on whether the it will see a soft or hard landing.

All but one component of the PMI deteriorated since last month.

china pmi

Photo: Fung Group

china pmi

Photo: Fung Group

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