layoffs-hit-chinas-manufacturing-sector

Layoffs hit China's manufacturing sector

Manufacturing activity in China suffers another deep decline in January as factory bosses lay off more workers.

Operating conditions in China's manufacturing sector declined in January, for the sixth consecutive month, according to the latest purchasing managers' index PMI published by CLSA Asia-Pacific Markets, This shouldn't come as much of a surprise given the global economic slowdown. What's worrying is that layoffs are on the rise, which could cause economic and political stability problems for China. 

Levels of new business fell for the sixth consecutive month in January, says CLSA in its latest PMI report. Moreover, despite easing for a second month running, the rate of contraction remained considerable, reflecting rapidly deteriorating market conditions and fears of a deepening economic downturn.

The PMI produced for...

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