The activity of China's manufacturing sector fell more than expected, according to China's statistical office. The index of business activity (PMI) fell to 51.2 from 51.5 in June. Economists had expected a decline to 51.3. It is worth noting that despite the decline, the indicator remains above the value of 50, which divides the expansion from contraction.

The report notes that the decline is largely due to the growing trade tension between the US and China and the cyclical processes caused by the beginning of the traditional season, which is characterized by a decrease in the activity of Chinese enterprises. The index of activity of large enterprises fell to 52.4 from 52.9 in June. The activity of small enterprises decreased by 0.5 points, to the level of 49.3.