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China manufacturing recovery slows as employment slumps

Caixin PMI survey shows activity at weakest since May 2020

The PMI was likely affected by sluggish overseas demand, among other factors, with new export orders decreasing for the second month in a row.   © Reuters

China's economic recovery continued last month but at a slightly slower clip, as the expansion in manufacturing activity was the weakest since May 2020, a Caixin-sponsored survey showed.

The Caixin China General Manufacturing Purchasing Managers' Index, which gives an independent snapshot of the country's manufacturing sector, fell to 50.9 in February from 51.5 the previous month, according to a report published on Monday.

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