none

China manufacturing slows with dip in demand

31-08-2010
by 
in 
China manufacturing slows with dip in demand

China’s manufacturing activity has slowed for the first time in seven months in May as new orders fell, according to the latest industry data.

The flash HSBC Purchasing Managers’ Index (PMI) for May fell to 49.6, slipping under the 50-point level for the first since October. Readings under 50 indicate contraction.

“The cooling manufacturing activities in May reflected slower domestic demand and ongoing external headwinds,” said Qu Hongbin, chief China economist at HSBC.

“A sequential slowdown is likely in the middle of the second quarter, casting downside risks to China’s fragile growth recovery,” Qu added.

The latest PMI has revived concerns about the strength of China’s economic recovery this year.

The PMI survey showed new export orders hovered below the 50-point level in May, though the rate of decline slowed from April, where a level of 50.4 was recorded.

China posted lacklustre data for industrial output and investment in April after an unexpected economic slowdown in the first quarter, raising fears of a feeble recovery in coming months.

The HSBC flash PMI comes a week before the final reading and is the earliest indicator of how the Chinese economy is faring each month.

Related news & editorials

  1. 20.09.2018
    20.09.2018
    by      In
    Control Logic has set its sights on expansion, with a new leadership team incorporating key roles in products and marketing, sales and development, and operations and services. The move aims to increase the company’s skill set and focus to drive innovation and expand the company’s expertise and... Read More
  2. 19.09.2018
    19.09.2018
    by      In
    The Australian Made Campaign is providing some valuable support for the nation’s furniture manufacturers with its latest initiative, which urges local buyers to ‘take comfort in their purchase’ and choose genuine Aussie furniture, bedding and furnishings this spring.
    According to Australian Made... Read More
  3. 12.09.2018
    12.09.2018
    by      In
    Siemens has unveiled its new manufacturing facility in Yatala (Queensland), which has been set up to support the growing global demand for the locally developed Fusesaver medium-voltage circuit breaker.
    The new factory is part of an ongoing $25 million investment in manufacturing and research of... Read More
  4. 11.09.2018
    11.09.2018
    by      In
    APS Industrial has relocated its Melbourne base into an all-new 4500m2 head office and national distribution centre in Rowville. The new facility includes an interactive product showcase room and state of the art conference facility.
    According to APS Industrial MD David Hegarty, “Since our launch... Read More