China July Flash HSBC PMI falls to 11-month low

Activity in China’s vast manufacturing sector slowed to an 11-month low in July as new orders faltered and the job market darkened, a preliminary survey showed on Wednesday, suggesting the world’s second-largest economy is still losing momentum.

The flash HSBC/Markit Purchasing Managers’ Index fell to 47.7 this month from June’s final reading of 48.2, marking a third straight month below the watershed 50 line which demarcates expansion of activities from contraction.

It was the weakest level since August 2012.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1289620/china-july-flash-hsbc-pmi-falls-11-month-low