News Snapshot:
China’s manufacturing and housing market continued to slump in July, with Beijing making fresh pledges to shore up the economy’s recovery. Most Read from Bloomberg The Caixin index of manufacturing activity declined to a six-month low of 49.2 last month, pointing to a contraction in the sector as export demand slumped. A separate report showed home sales tumbled 33.1% in July, the most in a year. The poor economic data came alongside a raft of pledges from the government in recent days to bolster the economy, and follow the pro-growth signals from the Communist Party’s Politburo, its top decision-making body,...
