China decline slows

The purchasing managers'  indexby China's Federation of Logistics and Purchasing rose to 41.2 in December from the record low of 38.8 in November.

It was in line with last week's similar reading on December PMI published by CLSA, the brokerage.

Highlighting the synchronised decline in economic output round the world, the Institute for Supply Managers' survey index published on Friday pointed to the sharpest fall in US manufacturing activity in almost 30 years. JPMorgan's global PMI also dropped to its lowest level. Other data confirmed the same trend in the European Union and South Korea.

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