360° Coverage : China's manufacturing activity at nine-month low: HSBC

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China's manufacturing activity at nine-month low: HSBC
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China's manufacturing activity at nine-month low: HSBC

Jun 20 2013, 2:30am CDT | by

Beijing, June 20 (IANS) China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC.

Beijing, June 20 — China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC. The HSBC Flash Manufacturing Purchasing Managers' Index (PMI)...

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1 year ago

China's manufacturing activity at nine-month low: HSBC

Jun 20 2013, 2:30am CDT | by

Beijing, June 20 (IANS) China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC.

Beijing, June 20 — China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC.

The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for June fell to 48.3, the lowest level since October and down from 49.2 in May, according to figures released by HSBC Thursday.

An index reading above 50 indicates expansion, while a reading below 50 means contraction.

Qu Hongbin, chief economist of HSBC China, said China's manufacturing sectors are weighed down by waning external demand, moderating domestic demand and rising destocking pressures, reported Xinhua.

The sub-index for manufacturing output dropped to an eight-month low of 48.8, while those for new orders and new export orders both fell from the previous month, the data show.

Qu said he expects China to see slightly weaker growth in the second quarter, as ongoing reforms may have a limited impact in the short term.

HSBC Wednesday cut its forecast for China's GDP growth this year to 7.4 percent, down from its previous forecast of 8.2 percent.

China's GDP growth slowed to 7.7 percent in the first quarter from 7.9 percent recorded during the last quarter of 2012, data from the National Bureau of Statistics show.

The government has set its growth target for this year at 7.5 percent in a bid to seek quality and efficient economic growth.

IANS

Source: IANS

 
Update
11

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2 weeks ago

Manufacturing PMI falls to 9-month low in September

Oct 1 2014 12:48am CDT | Source: Business Standard

Growth in manufacturing activities slowed to a nine-month low in September as pace of new orders declined, showed the widely-tracked HSBC purchasing managers' index (PMI). This indicates that revival of manufacturing may take a bit l ...
Source: Business Standard   Full article at: Business Standard
 

 
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China manufacturing growth unchanged in September

Sep 30 2014 9:45pm CDT | Source: Business Insider

Beijing (AFP) - Chinese manufacturing growth stalled in September, authorities said Wednesday, as the world's second-largest economy continues to grapple with ways to address slowing expansion.The official purchasing managers index (PMI) came in at 51.5 in September, the National Bureau of Statistics said in a statement.The figure was unchanged from August and slightly above the 50.2 figure given by British bank HSBC in its own survey released Tuesday.The index tracks activity in China ...
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Risk trading strategies found temporary relief overnight before the European session opened from the world’s second-largest economy. Better-than-expected Chinese manufacturing data has reversed some of yesterday’s market negativity that followed the weekend comments made by China’s Finance Minister Lou Jiwei who said his country would not amend its economic policies, despite the emergence of soft economic indicators lately. This morning’s reprieve was kickstarted by China’s HSBC f ...
Source: Forex News   Full article at: Forex News
 

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
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