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Factory activity in China unexpectedly contracted in July after recovering from the shutdowns imposed to curb the spread of the (Covid-19) virus the previous month, as the emergence of new strains of the virus and a bleak global outlook affected companies.
Data from the National Bureau of Statistics showed that the official manufacturing PMI in China settled at 49 in July 2022, down from 50.2 in June.
The 50-point mark separates contraction from growth on a monthly basis.
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