China's factory activities grew at slowest pace in 17 months in July amid extreme weather, rising raw material costs

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China’s factory activity expanded in July at the slowest pace in 17 months as rising raw material costs, equipment maintenance and extreme weather weighed on production activity.

The official manufacturing Purchasing Manager’s Index (PMI) fell to 50.4 in July from 50.9 the previous month, showed data from the National Bureau of Statistics (NBS), but remained above the 50 level that separates growth from contraction.

The reading marks the lowest since February 2020 when the index slumped to 35.7 as China imposed lockdown measures across the country to contain the Covid . . .

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