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China's manufacturing sector contracts in January for second straight month

Caixin/Markit manufacturing PMI drops to almost three-year low of 48.3

Beijing

CHINA'S vast manufacturing sector contracted for the second straight month in January as factories feel the pain from the on-going trade tensions with the US and tepid domestic demand.

China's Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) for January reached 48.3, its lowest level in almost three years as pressures continue to mount on the world's second-largest economy.

The official version of the index - which surveys the country's larger state-owned firms compared to the Caixin...

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