Another painful contraction in China's manufacturing sector. A leading private survey shows activity shrinking for a second straight month, falling once again below the 50 line separating expansion from contraction. The reading on employment was especially grim with the job sub-index hitting its lowest level since the 2008-2009 financial crisis. This survey is one of the few that measures Chinas vast labor market, although it focuses on small to medium-sized firms.
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