China’s July manufacturing activity contracts more than expected — declines for fourth-straight month

China’s official gauge for manufacturing activity on Thursday pointed to a worse-than-expected contraction in July amid slower economic growth and ongoing U.S. trade tensions. The Manufacturing Purchasing Managers’ Index for July was 49.3, missing expectations for 49.7 according to a Reuters poll. China’s official manufacturing PMI has been below the 50 mark, reflecting contraction