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          BIZCHINA> Top Biz News
          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.

          Related readings:
          Manufacturing contracts for 4th month in a row China to discuss support plans for machinery, textile industries
          Manufacturing contracts for 4th month in a row China unveils support package to auto, steel industries
          Manufacturing contracts for 4th month in a row China's PMI rises to 41.2 pct in Dec.
          Manufacturing contracts for 4th month in a row China manufacturing shrinks for 5th month

          But the manufacturing also showed improvement for a second consecutive month following a series of government policies to support the weakening 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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