China's manufacturing PMI drops below 50 for fourth month, signaling ongoing economic contraction.

China's manufacturing PMI dropped to 49.3 in July, marking the fourth consecutive month of contraction, below the 50 threshold indicating expansion. The non-manufacturing PMI fell to 50.1, also signaling a slowdown. Factors include high US tariffs, soft domestic demand, and weather disruptions. Experts call for a shift towards consumer-driven growth.