China Factory Activity Unexpectedly Contracts on Outbreaks

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China’s factory activity unexpectedly contracted in July while property sales continued to shrink, highlighting the fragility of the economy’s recovery amid sporadic Covid outbreaks and adding to calls for more policy stimulus to fuel growth. The official manufacturing purchasing managers index fell to 49 from 50.2 in June, the National Bureau of Statistics said Sunday, dropping below the 50-...

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