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China factory activity slides as leaders seek spending boost
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eNCA - DSTV Channel 403
BEIJING - 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.
Booming exports underpinned by strong demand overseas for electronics and AI hardware have provided a lifeline as consumption at home remains weak.
That was well below the 50.1 expansion forecast by a Bloomberg survey of economists, and also down from June's 50.3.
China's economy grew 4.3 percent year-on-year in the second quarter of 2026, the slowest pace in more than three years, official data showed this month.
The persistent slump in domestic spending, as well as a years-long crisis in the once-roaring property sector, have left Beijing reliant on exports to achieve growth.