Investing.com - China's manufacturing activity contracted at its fastest pace in almost three-and-a-half years in January, suggesting the world's second largest economy is off to a weak start in 2016.
The official manufacturing purchasing managers' index slid to 49.4 in January from December's 49.7 and below the 50-point mark that separates growth from contraction.
It was the weakest index reading since August 2012 and came in below economists’ forecast of 49.6.
China's economic growth slowed to 6.9% in 2015, the slowest pace in 25 years, adding pressure to policymakers to implement stimulus measures to bolster the economy.