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Manufacturing contracts for 4th month in a row
(Xinhua)
Updated: 2009-02-04 10:44 China's manufacturing activity contracted for a fourth straight month in January as the global economic downturn takes a toll on the country's economy.
The Purchasing Managers' Index (PMI) of China's manufacturing sector rose to 45.3 percent from 41.2 percent in December and a record low of 38.8 percent in November, the China Federation of Logistics and Purchasing (CFLP) said Wednesday. A reading above 50 percent suggests expansion, while one below 50 percent indicates contraction. (For more biz stories, please visit Industries)
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