none
none

Chinese manufacturing slumps for fifth month

02-04-2012
by 
in 
Chinese manufacturing slumps for fifth month

Chinese manufacturing slumped for a fifth month in March in the wake of the slowing European economy and weakening global demand.

Only the US is showing signs of momentum among the world's top economies, underlined by data showing jobless claims fell to a fresh four-year low last week.

Initial jobless claims fell in the US by 5,000 to 348,000 last week – the smallest number since February 2008.

In contrast, factory activity in China shrank for a fifth straight month in March, hit by declining orders, disappointing exports and new hiring hitting a two-year low.

China's slowdown partly reflects the weakness of economies in Europe.

German and French manufacturing, which this time last year spearheaded the Euro zone's recovery, suffered a sharp decline that even the most pessimistic economists failed to predict.

The HSBC flash purchasing managers index, the earliest indicator of China's industrial activity, fell back to 48.1 from February's four-month high of 49.6, firmly below the 50 mark that divides contraction and growth.
 

Related news & editorials

  1. 21.11.2017
    21.11.2017
    by      In
    Darcy Ewing of Kurrupt Kustoms in Albury NSW was running compressed air from a 6-year-old reciprocating piston-style compressor when (in his own words) it virtually “S*** itself!”.
    This left his high-end auto body and customisation shop in real trouble with a total shutdown of all essential... Read More
  2. 21.11.2017
    21.11.2017
    by      In
    If the recent upheavals in Australian manufacturing illustrate one truth, it is the absolute necessity for forward planning, and more to the point, the importance of planning for growth – regardless of a company’s existing size.
    While the ambition to grow a manufacturing operation is one thing,... Read More
  3. 21.11.2017
    21.11.2017
    by      In
    Blockchain technology was invented to make the world’s first crypto-currency, Bitcoin, possible. Traditional currencies rely on intermediaries like governments, banks and clearing houses to guarantee their value and process transactions. Bitcoin uses digital technologies to cut out these middlemen... Read More
  4. 21.11.2017
    21.11.2017
    by      In
    Australian Tank Engineering (ATE Tankers) has been engineering and manufacturing tankers in Australia for nearly two decades. But whereas most vehicle manufacturers have seen sales decline in recent years, ATE has elevated itself through the trend with a transformative mindset that has enabled the... Read More