China's factory recovery accelerates in July at a faster pace: PMI

China's factory activity expanded in July for the fifth month in a row and at a faster pace, beating analyst expectations despite disruptions from floods and a resurgence in coronavirus cases around the world.

The official manufacturing Purchasing Manager's Index (PMI) rose to 51.1 in July from June's 50.9, official data showed on Friday, marking the highest reading since March. Analysts had expected it to slow to 50.7.

The 50-point mark separates growth from contraction on a monthly basis.

China has largely managed to recover from strict lockdowns that had led to weeks of economic paralysis, although it is now battling the most