China`s manufacturing PMI (purchasing manager`s index) was at 48.2 in July, down from 49.4 in June. A level below 50.0 indicates a contraction. This is the lowest level in 15 months.
In addition, Bloomberg mentioned that this has caused the Australian dollar to reach a 6 year low. This is due to the fact that the Australian economy tends to move in parallel to China`s. The PMI report can be found here.
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