China’s manufacturing shows zero growth in July

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Beijing | Updated: August 1, 2015 11:01:33 AM

Official data show China's manufacturing recorded no growth in July, in a sign of weakness in the world's second-largest economy.

china economyOfficial data show China’s manufacturing recorded no growth in July, in a sign of weakness in the world’s second-largest economy. (Reuters)

Official data show China’s manufacturing recorded no growth in July, in a sign of weakness in the world’s second-largest economy.

The Chinese Federation for Logistics and Purchasing reported Saturday that the country’s purchasing managers’ index dipped to 50 from June’s 50.2 on a 100-point scale, on which numbers above 50 show activity expanding.

The Chinese government has cut interest rates four times since November and launched mini-stimulus efforts to shore up economic growth that slowed to 7 percent in the first quarter.

Analyst Zhang Liqun says in a statement that both overseas and domestic market demands were unstable and that factories lacked confidence as they reduced the stock of raw materials and were buying less.

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