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China factory activity shrinks in July, adding to pressure to reverse economic slump

Por: ABC News Business July 31, 2023

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BEIJING -- Chinese factory activity contracted in July as export orders shrank, a survey showed Monday, adding to pressure on the ruling Communist Party to reverse an economic slowdown.A purchasing managers’ index issued by the national statistics agency and an industry group improved to 49.3 from June’s 49 on a 100-point scale but was below the 50-point level that shows activity contracting.“China’s manufacturing PMI remained in... + full article



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