HONG KONG (AP) – Chinese manufacturing activity fell to its lowest in more than six years in the latest sign of the slowdown in the world’s second biggest economy, according to a survey released Wednesday.
The preliminary Caixin/Market index, which is based on a survey of factory purchasing managers, fell to 47.0 in September from 47.3 in August. Numbers below 50 on the 100-point index indicate contraction.
The index is at its lowest since March 2009, when the world was gripped by the fallout from the global financial crisis. The preliminary index reading is based on 85 percent of survey respondents. The final figure, which is often revised, is due by Oct. 1.
Factory output, export orders, overall new orders and employment all shrank at a faster pace, the report said.
The data will add to the pressure on China’s communist leaders as they try to prevent growth from falling too sharply.