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China Factory Activity Falls as Power Cuts Hit Private Firms

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China's Factory Activity Falls for Second Straight Month

China’s factory activity contracted in August, according to a private survey suggesting that fallout from power shortages and Covid outbreaks is hitting smaller firms alongside large and state-owned ones. 

The Caixin Manufacturing Purchasing Managers’ Index fell to 49.5 last month from 50.4 in July, according to a statement Thursday from Caixin and S&P Global. That’s lower than the median estimate of 50 in a Bloomberg poll of economists.