Chinese manufacturing is having its worst month since the depths of the global financial crisis in early 2009, according to early readings of a factory survey.
The general manufacturing purchasing managers’ index indicates a deterioration in conditions – and a contraction in the sector for seven consecutive months.
It came as Chinese President Xi Jinping gave a speech in the US seeking to reassure Americans over the health of the country’s economy.
Many analysts believe weakness in the export-reliant manufacturing sector may mean further devaluation of the yuan is inevitable in the coming months.
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