China Dec factory activity shrinks more than expected, bodes ill for recovery

China's manufacturing activity contracted for the third consecutive month in December and weakened more than expected, an official factory survey showed on Sunday, as factory owners struggled with weak demand, clouding the outlook for the country's economic recovery. The official purchasing managers' index (PMI) fell to 49.0 in December from 49.4 the previous month, according to the National Bureau of Statistics, below the 50-mark separating growth from contraction and weaker than a median forecast of 49.5 in a Reuters poll. China's central bank said on Thursday it would step up policy adjustments to support the .

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