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China factory activity shrinks for 3rd month: flash PMI

The flash HSBC/Markit Purchasing Managers' Index fell to 49.1 in May; the poor reading has reinforced analysts' views that the government has to take bolder steps to combat a protracted slowdown.


CHINESE factory activity contracted for the third month in May and output shrank at the fastest rate in just over a year, a private survey showed, indicating persistent weakness in the world's second-largest economy that requires increased policy support.

The poor reading,