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The outlook for China’s economy continues to carry a large degree of uncertainty with the country’s official manufacturing purchasing managers’ index (PMI) showing a contraction in May, while the private Caixin manufacturing PMI indicated that the sector is expanding.
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The official manufacturing PMI dropped to a five-month low of 48.8, down from 49.2 in April, and missed forecasts gathered by Reuters of 49.4.
The Caixin China General Manufacturing PMI was at the neutral level of 50 for March
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