China’s official gauge for manufacturing activity on Thursday pointed to a worse-than-expected contraction in July amid slower economic growth and ongoing U.S. trade tensions. The Manufacturing Purchasing Managers’ Index for July was 49.3, missing expectations for 49.7 according to a Reuters poll. China’s official manufacturing PMI has been below the 50 mark, reflecting contraction rather than expansion, since April. U.S.-China tensions escalated in April with each side imposing tariffs of more than 100% on imports of goods from the other. The two sides agreed in May to roll back most of the additional duties for 90 ... (full story)