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China Caixin manufacturing PMI slumps to 48.6

Xinhua, July 1, 2016 Adjust font size:

The Caixin General China Manufacturing Purchasing Managers' Index (PMI), an indicator of manufacturing activity, dropped to 48.6 in June from 49.2 in May, a private survey showed Friday.

The reading is below the neutral 50-point level, signalling a marginal deterioration in the manufacturing sector, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.

A reading above 50 indicates expansion, while a reading below 50 represents contraction. Endit