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Chinese manufacturing fall adds to evidence of sharp global downturn
China’s factories have stumbled through last month’s new year celebrations to join a broad decline in manufacturing across Europe and the US, adding further evidence of sharp downturn in the global economy since the beginning of the year.
Factory output contracted in China and the UK during February while growth slowed in France, Germany, Italy and the US to indicate that businesses and consumers remain wary of committing themselves to large orders while the direction of global trade remains uncertain.
UK manufacturers, which cut jobs for the second month in a row, were among the worst hit following a tumble in monthly exports
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