China’s Manufacturing Recovery Slows, Caixin PMI Shows

Activity in China’s manufacturing sector expanded for the second straight month in July — albeit at a slower pace — on the back of easing Covid-19 restrictions, a Caixin-sponsored survey showed Monday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, slipped to 50.4 in July from 51.7 the previous month. A number above 50 signals an expansion in activity, while a reading below that indicates a contraction.