A survey has found that China’s manufacturing slump has deepened as activity in the vital sector has fallen to its lowest level in 6 – 1/2 years.
The Caixin preliminary survey of factory purchasing managers released Wednesday fell in September to 47.0, its lowest level in 78 months.
That is down from 48.3 in August, based on a 100-point scale on which numbers above 50 indicate expansion.
The report found that an increased pace of contraction in factory output, export orders, overall new orders and employment.
The data adds to the pressure on China’s communist leaders as they try to prevent economic growth from falling too sharply.