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China December Factory Activity Shrinks for 10th Month: Caixin PMI

Jan 04 , 2016

China's factory activity contracted for the 10th straight month in December, and at a sharper pace than in November, a private survey showed, dampening hopes that the world's second-largest economy will enter 2016 on steadier footing.

The Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) slipped to 48.2 in December, below market expectations for a slight pick-up to 49.0 and down from November's 48.6.

The reading was the lowest since September, remaining well below the 50-point level which demarcates contraction from expansion on a monthly basis.

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