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Beijing, China — Factory activity in China shrank for a third straight month in July, official data showed Wednesday, a day after Beijing pledged more state support to boost activity in the country’s stuttering economy.
A key measure of factory output, the manufacturing purchasing managers’ index (PMI) stood at 49.4 in July, down slightly from 49.5 in June, the National Bureau of Statistics (NBS) announced.
The latest monthly figure was in line with a Bloomberg forecast based on a survey of analysts.
