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China factory activity contracts for second month as input woes continue

The official manufacturing Purchasing Manager's Index (PMI) was at 49.2 in October, down from 49.6 in September.

A trigger for the current crisis was power plants shutting down because of heavy losses on buying expensive coal and selling into a highly regulated electricity market
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A trigger for the current crisis was power plants shutting down because of heavy losses on buying expensive coal and selling into a highly regulated electricity market

Reuters Beijing
China's factory activity contracted more than expected in October to shrink for a second month, hurt by persistently high raw material prices and softer domestic demand, pointing to more economic disquiet in the final quarter of 2021.

The official manufacturing Purchasing Manager's Index (PMI) was at 49.2 in October, down from 49.6 in September, data from the National Bureau of Statistics (NBS) showed on Sunday.

The 50-point mark separates growth from contraction.Analysts had expected it to come in at 49.7.

China's sprawling manufacturing sector has steadily slowed this year, with output in September growing at its most feeble pace since March 2020 due

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