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China Manufacturing PMI Fell Into Contraction for October

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An official gauge of China’s manufacturing activity unexpectedly fell into contraction after rising to expansion territory for one month in September, signaling renewed weakness in the sector.

China’s official manufacturing purchasing managers index fell to 49.5 in October from 50.2 in September, the National Bureau of Statistics said Tuesday. A reading above 50 indicates an expansion in activity while a reading below it indicates contraction.

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