

Manufacturing Reports Show Depth of Global Downturn - tokenadult
http://www.nytimes.com/2009/01/03/business/worldbusiness/03yuan.html

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tokenadult
"In China, the purchasing managers’ index by the brokerage firm CLSA showed
the manufacturing sector had contracted for a fifth consecutive month. The
survey showed the steepest decline in its history.

"'With five back to back P.M.I.s signaling contraction, the manufacturing
sector, which accounts for 43 percent of the Chinese economy, is close to
technical recession,' said Eric Fishwick, head of economic research at CLSA in
Hong Kong, in a note accompanying the release."

