China's Manufacturing Shrinks for 8th Month

Chinas manufacturing sector continues to contract, marking the eighth consecutive month of decline, despite the recent US-China trade agreement. The official manufacturing index slightly improved to 49.2 in November, but still indicates contraction. While some tariffs were cut on Chinese goods, it remains uncertain if this will significantly boost exports. The Chinese economy faces challenges from a downturn in the housing market, intense price competition, and waning government support. The end of consumer goods subsidies could further impact domestic demand. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.