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Analyst: Drop in China manufacturing is normal fluctuation

China’s manufacturing activity retreated slightly in July from the previous month, with the manufacturing purchasing managers’ index (PMI) at 50, down from 50.2 in the previous month, according to the National Bureau of Statistics (NBS). Manufacturing PMI is a key measure of factory activity in China. A reading above 50 indicates expansion, while a reading below 50 represents contraction.

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