China Factory Activity Slides as Leaders Seek Spending Boost
Summary
China's factory activity unexpectedly slid in July, official data showed Friday, as leaders in the world's second-largest economy struggle to reignite domestic demand. The country's manufacturing sector has faced uncertainty this year due to the Middle East war, which has driven up global energy prices and disrupted shipping. Booming exports underpinned by strong demand overseas for electronics and AI hardware have provided a lifeline as consumption at home remains weak, reported AFP.