China’s July manufacturing activity contracts more than expected — declines for fourth-straight month

Key Points

China’s official manufacturing PMI has been below the 50 mark, reflecting contraction rather than expansion, since April.
The index for July was 49.3, missing expectations for 49.7 according to a Reuters poll.
During a high-level Politburo meeting on Wednesday, China’s top leaders did not signal plans for substantial new stimulus.

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