China Aug factory activity shrinks at fastest pace in three years, services cool

September 1, 2015 4:48 AM

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China Aug factory activity shrinks at fastest pace in three years, services cool

BEIJING Activity in China's manufacturing sector contracted at its fastest pace in three years in August, an official survey showed on Tuesday, reinforcing fears of a sharper slowdown in the world's second-largest economy despite a flurry of government support measures.

The official Purchasing Managers' Index (PMI) fell to 49.7 in August from the previous month's reading of 50.0, in line with expectations of analysts polled by Reuters.

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