HSBC survey finds China factory activity shrinks for second straight month

January 23, 2015 3:49 AM

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HONG KONG – China's manufacturing shrank for a second month in January, further evidence that momentum in the world's second-biggest economy remains weak after posting its slowest growth in more than two decades.

HSBC said Friday its preliminary index of manufacturing activity, based on a survey of factory purchasing managers, rose to 49.8 from 49.6 in December. Reading less than 50 on the index's 100-point scale indicate manufacturing is contracting.

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