China shares resume slide as PMI figures disappoint

Shanghai

CHINESE shares got off to a halting start on Monday after an official measure of activity in the giant factory sector fell to its lowest since mid-2012, offering no respite from the economic drift that has dogged markets for months.

The official version of the PMI survey for manufacturing slipped to 49.4 in January, from 49.7 the month before and short of forecasts of 49.6.

While the miss was minor, the PMI for services also disappointed by easing to 53.5 and challen…