China’s PMI Declined To A 17-month Low In July

The official purchasing managers’ index [PMI] fell to a 17-month low in July of 51.2 from 52.1 in June, the China Federation of Logistics and Purchasing said on Sunday. “The Chinese economy is slowing down due mainly to the ongoing property tightening measures, but the slowdown is clearly not as dire as some expected,” said Ting Lu, an economist with Bank of America Merrill Lynch (BAC)  in Hong Kong. – Reuters

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