China's factory activity expanded for fifth straight month in July

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China's factory activity expanded in July for a fifth consecutive month as the world's second largest economy continues to recover from the coronavirus fallout.

The official manufacturing purchasing managers’ index (PMI) for July stood at 51.1, according to data released by the National Bureau of Statistics (NBS) on Friday. A reading above 50 suggests expansion in factory activity.

That was the highest reading since March, slightly better than 50.9 for June and beating analysts’ expectations of 50.8 in a Bloomberg survey.

In breakdown, the sub-index for new . . .

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