China's Manufacturing Shows Zero Growth In July

BEIJING (AP) — China's manufacturing recorded no growth in July, in a sign of weakness in the world's second-largest economy, according to data released by an industry group on Saturday. The Chinese Federation for Logistics and Purchasing reported that the country's purchasing managers' index dipped to 50 from June's 50.2 on a 100-point scale, on which numbers above 50 show activity expanding, The Chinese government has cut interest rates four times since November and launched mini-stimulus efforts to shore up economic growth that slowed to 7 percent in the first quarter. The preliminary Caixin Manufacturing PMI was 48.2, down by 1.2 from June, although the official index won't be released until Monday.

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