Bloomberg on China PMI: China Manufacturing Weakens Further in July as Slowdown Deepens

The take from Bloomberg:

China’s manufacturing weakened further in July, signaling the worst of the nation’s slowdown has yet to be reached …
Extended weakness in production underscores Premier Li Keqiang’s challenge in meeting this year’s 7.5 percent economic growth target, with the government signaling this week that it may accept as little as 7 percent in the future. It may also boost pressure on policy makers to accelerate a shift toward consumption to sustain expansion in the longer term