China manufacturing index hits two-year low: survey

The final reading of Caixin's Purchasing Managers' Index (PMI) came in at 47.8 for the month, the Chinese media group said in a joint statement with Markit, a financial information services provider that compiled the survey. "July data signalled that the downturn in China's manufacturing sector intensified at the start of the third quarter," Caixin and Markit said in the release. The result came after China announced on Saturday that its official PMI slowed further in Ju