Demand slump drags global manufacturing to financial crisis levels

70% of major economies show shrinking production as China flags

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A goods demand shortage is hitting manufacturers worldwide, as China's economy sputters and consumers shift toward services. © Reuters

MISA HAMA and RIONA GOMI, Nikkei staff writers

TOKYO -- Global manufacturing indicators point to a slump in demand for goods at levels comparable to the 2008 financial crisis, as China's economy sputters and consumer spending shifts toward services.

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