China's headline manufacturing decline to lowest level

In China, the headline NBS manufacturing fell to a five-month low, with weakness across the board; production was weaker than expectations, and declines in new orders and imports, as well as new export orders, showed continued slowing domestic and external demand growth, while inventories were slightly lower, suggesting some adjustment to lower production levels. The Markit series, though, suggests that inventories actually increased (and shows a sharper drop in new orders, new export orders and output). 

"Our combined measure of the two sources shows a decline in headline manufacturing confidence to the lowest level since March 2009 and a gap of new orders less inventories of just 0.1, down from 2.8 in June", according to Barclays.