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China's factory activity contracts at steepest rate in 26 months - Caixin PMI
China’s factory activity shrank at the sharpest pace in 26 months in April amid escalating COVID-19 lockdowns, a private-sector survey showed on Saturday, adding to the gloom facing the world’s second-largest economy. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 46.0 in April from 48.1 in the previous month, lower than the 47 reading analysts had expected in a Reuters poll. The 50-point index mark separates growth from contraction on a monthly basis. Surveyed firms tied the drop to tightening COVID restrictions and the subsequent impact on business operations, supply chains and ... (full story)