China’s Official Factory Gauge Falls as Growth Slowdown Deepens

From bloomberg.com

An official Chinese factory gauge fell to a five-month low, signaling a deepening slowdown in Asia’s No. 1 economy and adding pressure on the government to shore up growth. The official Purchasing Managers’ Index was 50 in July, compared with the median estimate of 50.1 in a Bloomberg survey and down from June’s 50.2. The non-manufacturing PMI, a measure of services and construction, was at 53.9, from 53.8 the previous month. Numbers above 50 indicate expansion. The data echoes a private PMI that weakened in July, an indication that interest-rate cuts and efforts to shore up local government finances have yet ... (full story)