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<blockquote data-quote="Babagounj" data-source="post: 1018910" data-attributes="member: 12952"><p><strong><span style="font-family: 'Arial'"><a href="http://money.cnn.com/2012/09/01/news/economy/china-pmi/index.html?iid=HP_LN" target="_blank"><span style="color: #0A0A36">China's Manufacturing Slump Deepens</span></a></span></strong></p><p><strong><span style="font-family: 'Arial'"></span></strong> NEW YORK (CNNMoney) -- More bad news about China's factories: The country's manufacturing sector has contracted for the first time in nine months. </p><p> The National Bureau of Statistics in Beijing said on Saturday that the China Manufacturing Purchasing Managers Index for August fell to 49.2 from 50.1 in July. Any reading below 50 indicates that factory activity is shrinking rather than growing. </p><p></p><p> The fate of manufacturing in China is considered a barometer of the <a href="http://money.cnn.com/2012/08/31/news/economy/bernanke-jackson-hole/index.html?iid=EL" target="_blank">global economy</a> because of the country's role as a powerhouse exporter. </p><p> China, the world's second-largest economy behind the United States, has been hit particularly hard by the recession in much of Europe. The country has lowered its growth outlook -- and weak manufacturing numbers suggest a return to rapid pre-recession growth rates will take time.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 1018910, member: 12952"] [B][FONT=Arial][URL="http://money.cnn.com/2012/09/01/news/economy/china-pmi/index.html?iid=HP_LN"][COLOR=#0A0A36]China's Manufacturing Slump Deepens[/COLOR][/URL] [/FONT][/B] NEW YORK (CNNMoney) -- More bad news about China's factories: The country's manufacturing sector has contracted for the first time in nine months. The National Bureau of Statistics in Beijing said on Saturday that the China Manufacturing Purchasing Managers Index for August fell to 49.2 from 50.1 in July. Any reading below 50 indicates that factory activity is shrinking rather than growing. The fate of manufacturing in China is considered a barometer of the [URL="http://money.cnn.com/2012/08/31/news/economy/bernanke-jackson-hole/index.html?iid=EL"]global economy[/URL] because of the country's role as a powerhouse exporter. China, the world's second-largest economy behind the United States, has been hit particularly hard by the recession in much of Europe. The country has lowered its growth outlook -- and weak manufacturing numbers suggest a return to rapid pre-recession growth rates will take time. [/QUOTE]
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