New data has emerged today which shows that China’s manufacturing sector is now in its worse shape since 2009.
A preliminary version of the Caixin/Markit purchasing managers’ index fell to a 77-month low of 47.1 in August from July’s 47.8 on a 100-point scale. Numbers below 50 indicate a manufacturing sector contraction. This contraction was considerably more pronounced than many analysts of the Chinese economy had expected. Making this data even more concerning was…
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