China factory sector shrinks first time in nearly 3 years

Reuters – China’s factory sector shrank in November in the face of weakening demand both at home and abroad, two surveys showed on Thursday, underlining the central bank’s move to cut bank reserve requirements to shore up the economy. The official and HSBC purchasing managers’ indexes are likely to feed worries that the global economy is on a slippery slope as the euro zone is marred by its debt crisis, reinforcing expectations that China will ease policy further. Read Article

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