China braces for major economic crisis as factory activity contracts to lowest level since February 2020
Shortpedia
Content Team
Image Credit: Barrons
China's economy continues to take a hit amid a major crisis in the country that has forced citizens in several towns to use fire and torch. The Communist Party-ruled country's Purchasing Managers' Index-- a key measure of manufacturing activity slipped to its lowest since February 2020. The PMI of China slipped to 49.6 from 50.1 in August. It is a clear indication of contraction. 17 provinces are affected by power blackouts.
