China manufacturing unexpectedly shrinks in January: govt

China's manufacturing activity contracted for the first time in more than two years in January, an official survey showed Sunday, signalling further downward pressure on the world's second-largest economy. The official Purchasing Managers' Index (PMI) released by the National Bureau of Statistics (NBS) came in at 49.8 last month, down from 50.1 recorded in December. The index, which tracks activity in factories and workshops, is considered a key indicator of the health of China�