Skip to Content

China factory activity shrinks in July, adding to pressure to reverse economic slump


BEIJING (AP) — A survey shows Chinese factory activity contracted in July as export orders shrank. That adds to pressure on the ruling Communist Party to reverse an economic slowdown. A purchasing managers’ index issued by the national statistics agency and an industry group rose to 49.3 from June’s 49 on a 100-point scale but was below the 50-point level that shows activity contracting. Demand for Chinese exports weakened after U.S. and European interest rates were raised to cool record-breaking inflation. At home, consumers are uneasy about possible job losses and are putting off big purchases. Real estate sales, an economic engine, are weak after the government tightened control on the industry’s use of debt.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press


KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content