China’s factory activity weighed down by coronavirus-induced weak demand, slips back into contraction

China’s factory activity fell back into contraction in November as subdued demand, shrinking employment and elevated prices weighed on manufacturers, a business survey showed on Wednesday.The Caixin/Markit manufacturing purchasing managers’ index (PMI) fell to 49.9 in November from 50.6 the month before, versus analyst expectations of 50.5 in a Reuters poll. The 50-mark separates growth from contraction on a monthly basis.The world’s second-largest economy, which staged an impressive rebound…

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