BEIJING: A key gauge of Chinese manufacturing activity plunged to a two-year low in July, an independent survey showed on Monday, the latest data suggesting the world’s second-largest economy faces downward pressure in the third quarter.
The final reading of Caixin’s Purchasing Managers’ Index (PMI) came in at 47.8 for the month, the Chinese media group said in a joint statement with Markit, a financial information services provider that compiled the survey, down from a preliminary 48.2.
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