China's economy is being rattled by the Delta variant and supply chain woes
CNN
China's economy stalled this month as the country tried to stamp out a surge in coronavirus cases and contended with the ongoing shipping crisis.
An official survey of manufacturing activity fell to 50.1 in August from 50.4 in July. That was just above the 50-point mark indicating expansion rather than contraction, but still the slowest rate of growth since the start of the pandemic. Service industries, which now account for a larger slice of the world's second biggest economy, fared even worse. The non-manufacturing Purchasing Managers' Index plunged to 47.5 from 53.3 in July, the first contraction since February 2020.More Related News
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