China manufacturing slumps to 15-month low

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Hong Kong | Published: July 24, 2015 9:17:31 AM

An index shows China's manufacturing slumped to a 15-month low in July, in a fresh sign of deterioration in the world's second biggest economy.

china economyAn index shows China’s manufacturing slumped to a 15-month low in July, in a fresh sign of deterioration in the world’s second biggest economy. (Reuters)

An index shows China’s manufacturing slumped to a 15-month low in July, in a fresh sign of deterioration in the world’s second biggest economy.

The index based on a survey of factory purchasing managers fell to 48.2. The index uses a 100-point scale on which numbers above 50 indicate expansion.

The factory output sub-index decreased at a faster rate, falling to its lowest in 16 months.

New export orders and overall new orders both contracted after expanding the previous month.

China posted 7 percent economic growth last quarter, the weakest performance since the global financial crisis.

The monthly survey was previously sponsored by global bank HSBC. It is now sponsored by Chinese financial publication Caixin.

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