Chinese manufacturing plunged to a 15-month low in July, according to a preliminary survey on Friday that reinforced indications of slowing in the world's second-biggest economy, dpa reported. The preliminary Caixin survey showed the flash purchasing managers index (PMI) plunging from 49.4 in June to 48.2 in July, well below the 50 benchmark that separates growth from contraction. Previously sponsored by global bank HSBC, the index uses a 100-point scale on. A figure above 50 generally means a positive outlook in the manufacturing sector, while below 50 is taken as a negative reading. China's GDP grew 7 per cent last quarter, its weakest performance since the global financial crisis.
