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Manufacturing in China Slows Again
Factory activity in China declined for the third consecutive month in October, according to the government’s Purchasing Managers’ Index, BBC News reports.
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Factory activity in China declined for the third consecutive month in October, according to the government’s Purchasing Managers’ Index, BBC News reports.
At 49.8, the index was unchanged from September. But any number below 50 indicates contraction. The National Bureau of Statistics says a weak global economic recovery, coupled with downward pressure on China’s economy, puts the country’s producers in a “severe import and export situation.”
China’s gross domestic product is growing at slightly less than 7% this year, its weakest pace since the global financial crisis seven years ago.
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