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China's Manufacturing PMI Plummets, Signals Economic Contraction

4/30/2025

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Summary

Story summary

China's manufacturing sector is feeling the pinch, with April's official purchasing managers' index (PMI) dropping to 49.0, signaling contraction for the first time in nearly two years. The Caixin PMI also slipped to 50.4, raising alarms about potential repercussions on China's GDP and job market amid escalating trade tensions with the U.S.

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Story summary

China's manufacturing sector is feeling the pinch, with April's official purchasing managers' index (PMI) dropping to 49.0, signaling contraction for the first time in nearly two years. The Caixin PMI also slipped to 50.4, raising alarms about potential repercussions on China's GDP and job market amid escalating trade tensions with the U.S.