China’s manufacturing sector has contracted at the fastest rate for seven months.
HSBC’s manufacturing Purchasing Managers Index (PMI), which ranks the health of the sector based on output, new orders and employment, fell from 48.8 in May to 48.1 in June as the global economic slowdown continues to adversely affect China. With any figure below 50 indicating a contraction, overall conditions within China’s manufacturing sector continue to deteriorate.…
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