Growth across China’s vast manufacturing sector stalled in July with the government’s official PMI gauge slipping to 50.0.
The reading, below the 50.2 level of June, missed expectations for no change overall. It was also the lowest level seen since February, fitting with the deterioration seen in the separate Caixin-Markit flash manufacturing PMI report released in late July.
While manufacturing activity missed to the downside, it was a different story for the nations’s services sector with activity accelerating for a second consecutive month. The government’s separate non-manufacturing PMI gauge rose to 53.9 from 53.8 in June.