Chinese factory activity contracts for second straight month - PMI

Purchasing Managers Index (PMI) says Chinese factory activity contracted for a second straight month in January.
The index ticked up to 49.5, but remained below the 50-point level that separates growth from contraction.
China reported its weakest economic expansion in 28 years in 2018, and growth is expected to slow further.
Already, a number of multinationals have said sluggish growth in China has affected their bottom line.
The manufacturing data was up slightly from the 49.4 level recorded in December.

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