The Global Manufacturing Purchasing Managers Index (PMI) improved overall in July. China announced a PMI of 53.3 in July; Hong Kong rebounded to 49.9; India was 55.3; Australia rebounded to 44.5, a record high of 10 months with Russia's 48.4. In addition, manufacturing in European countries also showed unexpected signs of strengthening. The UK and France's PMI rebounded in May, with the UK surpassing 50 thresholds. Germany's July PMI was 45.7, which has rebounded in June; emerging markets Turkey and Hungary have nearly 50 PMIs in July.
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