China manufacturing activity shrinks for 3rd straight month: govt

Activity in China's vast manufacturing sector in October shrank for the third month in a row, officials have saidActivity in China’s vast manufacturing sector shrank in October for the third straight month, officials said Sunday, fuelling fears that growth in the world’s second largest economy is slowing faster than policymakers admit. The Purchasing Managers’ Index (PMI), tracking activity in the factory and workshop sector, was unchanged from the previous month at 49.8, the state statistics office said.

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