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China's manufacturing shows zero growth in July
Vendors browse mobile phone as they wait for customers near variety of fashion clothes hanging for sale at the Mutianyu section of the Great Wall of China in Beijing
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Vendors browse mobile phone as they wait for customers near variety of fashion clothes hanging for sale at the Mutianyu section of the Great Wall of China in Beijing. (AP/Andy Wong) (AP/Andy Wong)
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span class="inline inline-center">Vendors browse mobile phone as they wait for customers near variety of fashion clothes hanging for sale at the Mutianyu section of the Great Wall of China in Beijing. (AP/Andy Wong)
Official data show China's manufacturing recorded no growth in July, in a sign of weakness in the world's second-largest economy.
The Chinese Federation for Logistics and Purchasing reported Saturday that the country's purchasing managers' index dipped to 50 from June's 50.2 on a 100-point scale, on which numbers above 50 show activity expanding.
The Chinese government has cut interest rates four times since November and launched mini-stimulus efforts to shore up economic growth that slowed to 7 percent in the first quarter.
Analyst Zhang Liqun says in a statement that both overseas and domestic market demands were unstable and that factories lacked confidence as they reduced the stock of raw materials and were buying less.(++++)
