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China's Manufacturing Contracts for 4th Month in January
[2009-02-04 10:50:07]
BEIJING, Feb. 4 (Xinhua) -- 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.
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.
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