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Surveys Show Chinese Manufacturing Slowing

1 June 2012

China’s manufacturing weakened in May, according to surveys released on Friday. The European debt crisis is pinching China’s export manufacturers, while moves to control property prices have chilled spending on construction. Some analysts said the surveys suggest China’s economic growth will fall below 8 percent in the second quarter. Factory output was the weakest in three months and the reduction in jobs was the sharpest in more than three years, according to the HSBC China Manufacturing Purchasing Managers Index.—AP

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