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China factory activity falls in July for 3rd straight month

Posted at 9:02 PM, Jul 30, 2019
and last updated 2019-07-31 00:02:29-04

BEIJING (AP) — China reports that its factory activity contracted in July for a third straight month amid a tariff war with Washington and weak domestic demand.

A monthly index released Wednesday by an industry group, the China Federation of Logistics & Purchasing, stood at 49.7 on a 100-point scale. That was 0.3 points higher than in June but still below the 50 mark that shows activity contracting.

The logistics federation said the data indicated China’s economic downturn was slowing down. But it said the economy still faced “downward pressure.”

Chinese manufacturers have been hurt by U.S. tariff hikes imposed in a dispute over Beijing’s technology policies. Consumer demand also has weakened.

China’s economic growth fell to 6.2% over a year ago in the quarter ending in June, its lowest level since 1993.