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New order drop sees China factory activity expand at slowest pace in 15 months


China’s factory activity growth slipped sharply in July as demand contracted for the first time in over a year in part on high product prices, a business survey showed on Monday, underscoring challenges facing the world’s manufacturing hub.The Caixin/Markit manufacturing purchasing managers’ index (PMI) fell to 50.3 last month from 51.3 the month before, the lowest level since April 2020.Analysts polled by Reuters had expected the index to ease to 51.1. The 50-mark separates growth from…

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