Chinese manufacturing slowed to a two-year low in July, according to a closely watched index published Monday. The Purchasing Managers' Index (PMI), published by Chinese economic magazine Caixin, stood at 47.8 in July, down from 49.4 in June, dpa reported. Previously sponsored by bank HSBC, the index uses a 100-point scale. A figure above 50 generally means a positive outlook - meaning growth in the manufacturing sector - while below 50 is taken as a negative reading. "Softer client demand and reduced output requirements contributed to further job shedding and lower purchasing activity," Caixin said. Manufacturers had cut production at the fastest rate since November 2011, it said. China's GDP grew 7 percent last quarter, its weakest performance since the global financial crisis but still outperforming most forecasts. -- SPA 18:49 LOCAL TIME 15:49 GMT تغريد
