Official data showed Japanese factory activity shrank by 2% from the previous month in July. A survey of Chinese service industries showed activity weakened in July but still was expanding.
A monthly index of Chinese service industries declined to 51 from June’s 51.2 on a 100-point scale on which numbers above 50 show activity growing. A separate manufacturing index improved to 49.7 but still showed activity contracting. On Wall Street, the S&P 500 advanced Wednesday to 4,514.87. It is down from this year’s peak in July but still up 17.6% for the first eight months of 2023.
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