BEIJING (AP) — A closely watched measure of Chinese manufacturing activity remained negative in July as concern persists about the state of the world's second largest economy.
The Purchasing Managers' Index, based on a survey of factory managers, slipped 0.1 points to 49.4, the National Bureau of Statistics said Wednesday. It was the third straight monthly reading below 50, a level that indicates a contraction of manufacturing activity.
A parallel purchasing managers' index for the service sector also fell 0.3 points, though it remained in positive territory at 50.2.
The Politburo, a top body of China's ruling Communist Party, warned Tuesday that the coming months would be tough and promised unspecified measures to restore confidence in financial markets and boost government spending.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
