Caixin: Chinese production contracts for the first time since April 2020

The Chinese manufacturing sector shrank during August, the first time it has declined since April 2020, according to the Purchasing Manager Index (PMI) published today by the economic news portal Caixin and prepared by British consulting council IHS Markit.

In August, the indicator – a benchmark for many international investors – stood at 49.2 points, compared to 50.3 in July.

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