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RatingDog China Composite PMI Slows in July

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Business activity across China's private sector expanded at a softer pace in July, with the headline RatingDog China Composite Output Index, compiled by S&P Global, coming in at 50.8, according to data released on Wednesday.

The latest print, which aggregates combined performance figures across both the manufacturing and service sectors, compared with the 53.6 recorded in the previous month.

A reading above 50 indicates an overall expansion in private sector activity, while a figure below signals a contraction.

The reading contrasted with the official government composite PMI, which stood at 49.3 in July.

The monthly momentum reflected slower expansion across both manufacturing and services, with the RatingDog China General Manufacturing PMI at 50.9 and the RatingDog China General Services Business Activity Index at 50.4.

New business increased for a 14th consecutive month, though at the slowest pace since March, while employment rose for a third straight month and input cost and output price inflation both eased to six-month lows.

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