China’s non-manufacturing Purchasing Managers Index fell from 55.0 in June to a six-month low of 54.2 in July as demand from the property market faltered, Bloomberg reported, citing the National Bureau of Statistics and China Federation of Logistics and Purchasing on Saturday. The report highlights how a correction in the property market could threaten economic growth and contrasts with a government report last week that showed manufacturing expanded at the fastest pace in more than two years. The International Monetary Fund warned last week that real estate represents the biggest near-term risk to China’s economy.
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