China’s economy flashed another warning sign in July 2026. The official manufacturing Purchasing Managers’ Index, or PMI, fell to 49.2. It was jointly released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing. The index was down 1.1 points from June’s 50.3. The figure fell below the 50-point threshold that separates expansion from contraction. It marked the lowest level in nearly five months and was well below market expectations of 50.
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