ING
China's PMI fell sharply in July as markets await policy support
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https://think.ing.com/snaps/china-pmi/
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China’s PMI fell sharply in July as markets await policy support
The sharp decline in China's PMI readings for July reveals a concerning economic trend, with both manufacturing and non-manufacturing indices dipping into contraction territory, as highlighted in the bank's analysis. Per the full note from ing-think, the manufacturing PMI fell to 49.2, significantly below market expectations of 50.1. Given this backdrop, expectations for a policy pivot from authorities are rising, though the path forward may face resistance amid broader macroeconomic challenges.
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ING THINK