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China’s factory activity expands at slowest pace in five months in Jan, before virus fears – private survey

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China's factory activity expanded at a slowest pace in five months in January, with new orders slowing further and export orders slipping into contraction, indicating a weaker outlook for small manufacturers even before the coronavirus outbreak.

The Caixin manufacturing purchasing managers’ index (PMI), a survey of small, private factories, came in at 51.1 for January, according to data released on Monday. A reading above 50 indicates expansion while a reading below the mark represents contraction . . .

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