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

 
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11

1 hour ago

China manufacturing growth slows in October: govt

Oct 31 2014 9:06pm CDT | Source: Business Insider

Beijing (AFP) - Chinese manufacturing growth slowed in October, the government said on Saturday, as the world's second-largest economy expands at its weakest pace in five years.China's official purchasing managers index (PMI), a measure of activity in the sector, came in at 50.8 last month, Xinhua news agency quoted the National Bureau of Statistics as saying.The figure was lower than the 51.1 recorded in September and compared wit ...
Source: Business Insider   Full article at: Business Insider
 

 
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Earlier this week a prominent Chinese politician and businesswoman reportedly compared Hong Kong's protestors demands for democracy to the emancipation of African-American slaves, The New York Times reports. Laura Cha, a nonofficial member of Hong Kong’s Executive Council, spoke at a trade event in Paris on Wednesday when she gave the analogy, saying, “American slaves were liberated in 1861, but did not get voting rights until 107 ye ...
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1 week ago

Canadian dollar rises amid positive Chinese, eurozone economic data

Oct 23 2014 7:33am CDT | Source: Canadian Business Online

TORONTO – The Canadian dollar was higher Thursday amid positive economic news from Europe and China and rising commodity prices. The loonie was ahead 0.27 of a cent to 89.21 cents US. Financial information company Markit said its composite purchasing managers’ index for the eurozone — a gauge of business activity across the manufacturing and services sectors — rose to 52.2 points in October from 52.0 in September. Anything abo ...
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1 week ago

Stock markets to advance amid positive economic data, corporate earnings reports

Oct 23 2014 7:15am CDT | Source: Canadian Business Online

TORONTO – The Toronto stock market was in for a higher open Thursday amid some upbeat economic news from the eurozone and China along with another busy day for corporate earnings in Canada and the U.S. The Canadian dollar rose 0.07 of a cent to 89.01 cents US. Better than expected earnings from General Motors and Caterpillar helped push U.S. futures higher with the Dow Jones industrial futures ahead 137 points to 16,562, the Nasdaq ...
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Update
7

1 week ago

It's A Mistake To Characterize China's 'Better-Than-Expected' Manufacturing Report As 'Good'

Oct 23 2014 6:23am CDT | Source: Business Insider

Late Wednesday, China released some economic data that's being characterized as an improvement and a 'beat' relative to expectations. While all of this is fair and accurate, it should not be interpreted as good. China's Flash Manufacturing PMI index climbed to 50.4 in October, up from 50.2 in September. It was better than the 50.2 expected by economists. And anything above 50 signals growth. However, the fact that it has been tren ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
5

1 week ago

World stocks sink after manufacturing data shows China’s factories failing to fire

Oct 23 2014 3:13am CDT | Source: Canadian Business Online

TOKYO – Global stocks fell Thursday after another slump in oil prices added to doubts about the strength of global demand and China’s manufacturing output grew at the slowest pace in five months. KEEPING SCORE: European markets were lower in morning trade. France’s CAC-40 was down 0.5 per cent to 4,085.07 and Germany’s DAX shed 0.4 per cent to 8,906.64. Britain’s FTSE100 lost 0.7 per cent to 6,353.03. B ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
4

1 week ago

Asia shares slip on profit-taking

Oct 23 2014 12:09am CDT | Source: Business Insider

Hong Kong (AFP) - Asian markets slipped on profit-taking Thursday following the previous day's hefty gains but losses were limited after a closely watched indicator showed a slight pick-up in Chinese manufacturing activity.The dollar edged up following a surprising rise in US inflation while the euro faced fresh selling pressure owing to speculation that the European Central Bank will widen its bond-buying programme to boost the eurozone economy.Tokyo fell 0.39 pe ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
3

1 week ago

European futures higher as focus turns to German inflation

Oct 21 2014 3:14am CDT | Source: Forex News

It looks like the volatility in equity markets may not yet be over as investors seem to have decided we can re rally from the lows seen over the last few weeks or so. US and European markets staged an impressive comeback on Friday managing to help lead a recovery to the correction. However we cannot yet rest easy and get back into the long term buying trend, with a whole host of economic data due for release this week and the all ...
Source: Forex News   Full article at: Forex News
 

 
Update
2

2 weeks ago

India’s wholesale price inflation falls to five-year low in September

Oct 14 2014 3:02am CDT | Source: Canadian Business Online

NEW DELHI – India’s benchmark inflation rate fell to a five year low of 2.4 per cent in September as food and vegetable prices dropped, the Commerce Ministry said Tuesday. Wholesale price inflation was 3.7 per cent in August and 7.1 per cent in September last year. India has suffered chronically high inflation. But the lower level of price increases, if sustained, could pave the way for the central ba ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
1

2 weeks ago

China September trade surplus more than doubles

Oct 12 2014 11:09pm CDT | Source: Business Insider

Beijing (AFP) - China's trade surplus more than doubled to $31.0 billion in September, official data showed Monday, as exports jumped while imports increased at a slower rate.Exports from the world's second-biggest economy rose 15.3 percent year-on-year to $213.7 billion, the General Administration of Customs announced, while imports climbed 7.0 percent to $182.7 billion.The surplus was lower than August's record $49.8 billion, and also came in belo ...
Source: Business Insider   Full article at: Business Insider
 

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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