China Factory Growth Slows to 4-Month Low in July Amid Weak Demand

China's manufacturing PMI fell to 50.9 in July from 51.7 in June, indicating the slowest growth in four months and missing analyst forecasts of 51.5. This slowdown, reinforced by an official survey showing contraction, highlights concerns over weak domestic demand and elevated production costs. Leaders pledged to accelerate fiscal spending, but not major new stimulus, as Q2 economic growth was the slowest in over three years. This global economic slowdown could increase safe-haven demand for gold, potentially supporting international bullion prices and influencing USD/PKR.

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