Growth in manufacturing activity in the US and China is slowing but shows little sign of a slide towards recession, according to official data.
The purchasing managers’ index in China dropped to 50.4 from 51.2 in September, while the US Institute for Supply Management’s PMI declined from 51.6 in September to 50.8 last month. Above 50 indicates expansion; below 50 means contraction.
China’s official index has not fallen below 50 since February 2009, at the height of the crisis.
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