KSEE24 RESCAN /
KSEE24 has officially switched frequencies. You must rescan your TV if you use an antenna. Call 559-222-2411 Option 3 for more info.

China factory activity falls in July for 3rd straight month

Business

FILE – In this May 24, 2019,file photo, workers talk at a composite materials manufacturing plant in Nantong in eastern China’s Jiangsu province. China’s factory activity contracted in July for a third month amid a tariff war with Washington and weak domestic demand. A monthly index released Wednesday, July 31, 2019, by an industry group, the China Federation of Logistics & Purchasing, stood at 49.7 on a 100-point scale. (Chinatopix via AP, File)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

BEIJING (AP) — China’s factory activity contracted in July for a third month amid a tariff war with Washington and weak domestic demand.

A monthly index released Wednesday by an industry group, the China Federation of Logistics & Purchasing, stood at 49.7 on a 100-point scale. That was up 0.3 points from the previous month but still below the 50-point mark that shows activity contracting.

The data indicate China’s economic downturn was slowing, said a logistics federation statement. But it said the economy still faced “downward pressure.”

Chinese exporters have been hurt by President Donald Trump’s tariff hikes in a dispute over Beijing’s technology policies and trade surplus. Consumer demand also has weakened, hurt by uncertainty about China’s economic outlook.

China’s economic growth fell to 6.2% over a year ago in the quarter ending in June, its lowest level since 1993.

U.S. and Chinese trade negotiators met Wednesday but economists said an early breakthrough was unlikely.

The manufacturing decline “will continue in 2019 until the trade and technology negotiations make some progress,” said Iris Pang of ING in a report.

Chinese leaders have tried to shore up economic activity by pumping money into building highways and other public works. That has supported demand for construction materials but failed to reverse the overall downturn.

Exports of Chinese goods to the United States fell 7.8% in June from a year earlier. China’s global exports sank 1.3%.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

CBS47 On Your Side

Do you have a problem that you need help solving? Contact CBS47 and let us be On Your Side.

Phone: 559-761-0383
Email: OnYourSide@cbsfresno.com

Don’t Miss

Sunday Service
Best of the Valley
Sunday Morning Matters
MedWatch Today
Hispanic Heritage
Bulldog Insider: The Podcast
The Valley's Armenia
Pros Who Know

Images from Armenia

Small patients in Armenia
Yerevan by night.
Dr. Jeff Thomas delivers.
Dr. Jeff Thomas delivers in Gyumri.
Doctors unpack medical supplies from The Central Valley.
Fresno Medical Mission at work.
Medical Supplies being unloaded.
Fresno Medical Mission at the ready.
KSEE24 crew witnesses the miracle of life in Gyumri, Armenia.
Life saving work of Central Valley surgeons in Armenia.
Ribbon cutting on new surgical center in Ashtarak Armenia. Fresno donors made this dream come true.
KSEE24 on assignment with the Fresno Medical Mission
Honorary Consulate to Armenia Berj Apkarian explains the crisis facing one hospital.
KSEE24's Stefani Booroojian and Kevin Mahan at the meeting with President Bako Sahakyan.
Medical Meeting in Artsakh.
The President of Artsakh meets with the Fresno Medical Mission.
Learning modern medicine techniques with the Fresno Medical Mission in surgery.
Leaning in for a look. Dr. Brien Tonkinson holds class and helps a patient in Armenia.
Fresno Medical Mission cares on one of the smallest patients in the region. Six-year old Yanna receives life-changing better breathing surgery.