360° Coverage : China's manufacturing PMI falls

China's manufacturing PMI falls

Beijing, July 1 (IANS) China's Purchasing Managers' Index (PMI) for the manufacturing sector fell to 50.1 percent in June from 50.8 percent in May, data from the China Federation of Logistics and Purchasing (CFLP) showed Monday.

Jul 1 2013, 1:51am CDT | by

China's manufacturing PMI falls
Photo Credit: Lam Yik Fei, Getty Images

Beijing, July 1 — China's Purchasing Managers' Index (PMI) for the manufacturing sector fell to 50.1 percent in June from 50.8 percent in May, data from the China Federation of Logistics and Purchasing (CFLP) showed Monday.

June marked the ninth consecutive month that the PMI figure stayed above 50 percent, the line demarcating expansion from contraction, reported Xinhua.

Major PMI compounds all declined in June, indicating downward pressure on the economy, said Zhang Liqun, analyst with the Development Research Center of the State Council.

But Zhang also noted that the economic growth is still in a process of stabilizing. Inventories have touched a historically low level, suggesting limited room for further decrease, the analyst said.

Investment and consumption remained generally stable in the first five months of this year, and the actual growth rate of exports did not see a significant fall, Li explained, adding that the policy targeting stable growth will gradually take effect.

In June, the sub-index for production moved down from 53.3 percent in May to 52.0 percent, while the sub-index for new orders lost 1.4 percentage points to 50.4 percent, according to a statement jointly released by the CFLP and the National Bureau of Statistics.

The sub-index for raw materials inventories was slightly down 0.2 percentage points from the previous month to 47.4 percent in June, marking a fifth consecutive month of shrinking stocks.

The sub-index for purchasing prices of raw materials lost 0.5 percentage points to 44.6 percent in June, staying below the 50-percent demarcation line for a third consecutive month.

Data also showed that the employment sub-index for June pared 0.1 percentage points to 48.7 percent, indicating job cuts, while the sub-index for supplier delivery times moved down 0.5 percentage points to 50.3 percent.

IANS

Source: IANS

 
 
 

<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.

 

blog comments powered by Disqus

Latest stories

NASDAQ is Back at 2000 Dot-Com Bubble Level
NASDAQ is Back at 2000 Dot-Com Bubble Level
The Dot-Com force is back at the NASDAQ. It took Silicon Valley 15 years to bring back the NASDAQ to the Dot-Com Bubble Levels. With startup valuations in the billions becoming the norm, Wall Street is following up with driving up the value of public traded tech companies.
 
 
Bill Gates Tops Forbes Billionaires List Again
Bill Gates Tops Forbes Billionaires List Again
Microsoft co-founder Bill Gates is back on top of the Forbes Billionaires list.
 
 
$75,000 Apple Watch revealed
$75,000 Apple Watch revealed
When Apple's designs are not exclusive enough then there are 3rd parties who add gold and diamonds to the iGadget to make them precious. Brikk announced the Lux Watch, a diamond studded version of the Apple Watch.
 
 
Sony will not Sell Off TV And Mobile Spinoffs
Sony will not Sell Off TV And Mobile Spinoffs
Sony President Kazuo Hirai clarified on Wednesday that the company will not immediately sell off the spun out TV and mobile phone business.