China's manufacturing purchasing managers' index (PMI) came in at 49.2% in July, down 1.1 percentage points from the previous month, indicating a cooling in business sentiment, according to data from the National Bureau of Statistics. The non-manufacturing business activity index fell 1.2 percentage points month on month to 49.0%, while the composite PMI output index dropped 1.3 percentage points to 49.3%, signaling a slowdown in business activity across the country's enterprises.