none

China manufacturing activity hits 7-month low

31-08-2010
by 
in 
China manufacturing activity hits 7-month low

Chinese manufacturing contracted this month as activity hit its weakest pace in seven months, according to preliminary data.

According to the HSBC, the monthly Purchasing Managers' Index dropped to 48.3, compared to a final reading of 49.5 in January. A reading below 50 suggests contraction, while one above 50 shows expansion.

The sub-index for manufacturing output also hit a seven-month low, while the employment gauge showed a faster decrease than in the previous month.

The new-orders component swung to a decrease as well, with new export orders also showing a decline, though at a slower pace than in January.

HSBC chief China economist Hongbin Qu said the result reflected "renewed destocking activities."

"Underlying momentum for manufacturing growth could be weakening, Qu said. “We believe Beijing policy makers should and can fine-tune policy to keep growth at a steady pace in the coming year."

The flash PMI usually includes 85% to 90% of the survey responses used for the final report, which is expected to be released on March 3. 

Related news & editorials

  1. 18.05.2018
    18.05.2018
    by      In
    The latest edition of the Methods technology and solutions e-zine from Mouser Electronics focuses on digital twinning, the latest concept for design and maintenance in Industry 4.0.
    Starting with a forward from digital twinning expert Dr Michael Grieves, Executive Director of the US Center for... Read More
  2. 17.05.2018
    17.05.2018
    by      In
    The Federal Government has released an expanded overview of its 12-year national research infrastructure investment plan, marking the “next step of the innovation and science agenda”.
    The plan, prepared jointly by Education and Industry departments, will “provide Australian researchers with access... Read More
  3. 17.05.2018
    17.05.2018
    by      In
    Victoria’s Marand has grown its customer base, securing a partnership with Rolls-Royce for construction of the MT30 gas turbine for the SEA 5000 Future Frigate project.
    Under the agreement, Marand will work with Rolls-Royce on design development, manufacture and integration of the specialised... Read More
  4. 17.05.2018
    17.05.2018
    by      In
    Pushed in part by rising energy prices, almost half of all Australian businesses are moving towards renewable energy generation, according to a new report by the Climate Council which details the increased speed of our business-led transition to renewables.
    This statistic includes those who are... Read More