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© Reuters. FILE PHOTO: Employees work on the production line of vehicle components during a government-organized media tour to a factory of German engineering group Voith, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China July 21, 2022. REU
BEIJING (Reuters) – China’s factory activity contracted unexpectedly in July after bouncing back from COVID-19 lockdowns in the previous month, as fresh virus flare-ups and a darkening global outlook weighed on manufacturers, an official survey showed on Sunday.
The official manufacturing purchasing managers’ Index (PMI) stood at 49 in July, down from 50.2 in June, data from the National Bureau of Statistics showed.
The 50-point mark separates contraction from growth on a monthly basis.
Analysts polled by Reuters had expected the reading to improve slightly to 50.4.
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