BEIJING: China’s manufacturing downturn showed tentative signs of bottoming out yesterday, offering a rare glimmer of hope for the world economy mired in its worst slump in decades.
Underscoring the severity of the crisis, US auto sales plunged more than 40% in February, existing home sales plumbed record lows and Australia’s long-resilient economy finally succumbed to global headwinds, shrinking unexpectedly in the final quarter of last year.
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