Manufacturing orders from China down 40% in unrelenting demand collapse

U.S. manufacturing orders in China are down 40% in what a logistics manager described to CNBC as an unrelenting demand collapse.

Asia-based shipping firm HLS recently told clients it is a “very bad time for the shipping industry.”

China to U.S. container volume was down 21% between August and November.

Chinese factories are shutting down two weeks earlier than usual ahead of Chinese New Year.