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. 25.09.2018
    25.09.2018
    by      In
    Energy Efficiency Expo is a new annual trade exhibition and conference dedicated to energy productivity and affordability. Organised by Reed Exhibitions Australia in partnership with the Energy Efficiency Council, the new event will be held for the first time in October 2019 at the Melbourne... Read More
  2. 25.09.2018
    25.09.2018
    by      In
    This week has seen the opening of a unique facility at Deakin University dedicated to advanced metal development and 3D roll forming. The $1.5 million IFM Flexible Forming Facility has been set up as part of Deakin’s Institute for Frontier Materials (IFM), supported a $280,000 grant from the... Read More
  3. 24.09.2018
    24.09.2018
    by      In
    CSIRO is shooting for the Moon this week at the 18th Australian Space Research Conference on the Gold Coast with the launch of an industry roadmap designed to encourage the development of the technological expertise to help to establish a human base on the Moon.
    The report, “Space: A roadmap for... Read More
  4. 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