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China’s Manufacturing PMI Continues to Fall

Economy

China’s manufacturing Purchasing Managers’ Index (PMI) fell 2.1 points month-on-month to 47.4 in April, the lowest reading since February 2020 (a reading below 50 indicates contraction), according to China’s National Bureau of Statistics (NBS). The fall came as production dropped significantly and market demand continues to decline, according to an NBS Senior Statistician.