Manufacturing Sector Still Contracting, HSBC's PMI Suggests

(Beijing) – The country's manufacturing sector continues to contract as activity slowed to an 11-month low in July, the preliminary results of HSBC's Purchasing Managers' Index (PMI) show.

The bank's economist said this made the case stronger for policy adjustment to support the economy.

The HSBC Flash China Manufacturing PMI fell to 47.7 point this month from June's 48.2. The line between contraction and expansion is 50.