(Yicai Global) Aug. 1 -- China's manufacturing sector contracted for a second month in a row in July, but at a more sedate pace, according to a much-watched private gauge of factory activity at smaller firms.
The Caixin manufacturing purchasing managers' index edged up to 49.9 from 49.4 the previous month. July's figure was 0.4 point higher than excepted. The 50-mark divides expansion from contraction.
For the same month, the official manufacturing PMI compiled by the National Bureau of Statistics climbed 0.3 point to 49.7. It surveyed 3,000 mostly large and state-owned companies.
Editor: Emmi Laine