The Caixin/Markit manufacturing Purchasing Managers' Index (PMI) for China came in at 52.8 for July.
Economists polled by Reuters expected Caixin/Markit manufacturing PMI to come in at 51.3 for July as compared to 51.2 for June.Arrows pointing outwards
"As production and demand expanded, measures for purchases and stocks of purchased items both remained strong," said Wang Zhe, senior economist at Caixin Insight Group. Demand was also hit as the virus spread globally. The gauge for new export orders remained in contractionary territory for the seventh consecutive month in July.
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