Manufacturing Shrinks at Steepest Pace in Nearly Three Years: Caixin Survey
China’s manufacturing activity contracted at the steepest pace in nearly three years in January, with weak domestic demand blunting the effect of improved foreign demand amid positive signs in Sino-U.S. trade talks, a Caixin survey showed Friday.
The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives a snapshot of operating conditions in the manufacturing sector, dipped to 48.3 in January from 49.7 the previous month, marking the weakest level since February 2016.
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