Chinese factory activity contracted for a second straight month in January, the official Purchasing Managers Index (PMI) showed.

The index ticked up to 49.5, but remained below the 50-point level that separates growth from contraction.

China reported its weakest economic expansion in 28 years in 2018, and growth is expected to slow further.

Already, a number of multinationals have said sluggish growth in China has affected their bottom line.

The manufacturing data was up slightly

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