Source: International Business Times
China's manufacturing activity shrank in April after growing at its highest rate in a year the previous month AFP China's manufacturing activity shrank in April after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States. Punishing US tariffs that have reached 145 percent on many Chinese products came into force in April, while Beijing has responded with fresh 125 percent duties on imports from the United States. The Purchasing Managers' Index -- a key measure of industrial output -- came in at 49 in April, according to the National Bureau of Statistics (NBS), below the 50-point mark that separates growth and contraction.
