Investing.com - A measure of China’s manufacturing activity shrank for the third straight month in July, official government data showed on Wednesday.
Data showed this morning that the country’s official manufacturing PMI in July came in at 49.7, higher than the forecasted 49.6 and June’s 49.4. Non-Manufacturing PMI for the month was at 53.7, lower than the expected 54.0 and last month’s 54.2, accordingto data from the Chinese statistics bureau.
PMI readings above 50 indicate expansion, while those below that signal contraction.
A separate survey, the Caixin PMI which features a bigger mix of small- and medium-sized firms will be out on Thursday.
The Shanghai Composite and the Shenzhen Component were down 0.6% and 0.7% in morning trade following the release of the data.