A closely-watched survey of China’s manufacturing activity showed the sector’s pace of contraction quickened in the final month of the year, underscoring weakness shown only a few days earlier in the country’s official figures.
The Caixin/Markit manufacturing purchasing managers index came in at 48.2 in December, down from 48.6 in November. Economists were looking for a reading of 48.9.
That still leaves it below the threshold of 50 that separates expansion from contraction. Only in February did China’s manufacturing sector expand last year, according to the Caixin/Markit survey
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