none

CHINESE MANUFACTURING STILL IN DECLINE

04-12-2015
by 
in 

China’s manufacturing sector has declined for the fourth successive month, according to official data.

The official Purchasing Managers' Index (PMI), compiled by the National Bureau of Statistics, was down 0.2 points to 49.6 points. (A reading of less than 50 indicates contraction).

This is the lowest official reading since August 2012.

Both new orders and new export orders fell substantially, reflecting weak demand in both internal and external sectors.

However, another private manufacturing survey by Caixin PMI showed a slight improvement.

While the Caixin PMI also reported its ninth consecutive month of declining activity, the deterioration is the weakest since June.

The Caixin PMI came in at 48.6, up from a reading of 48.3 in October.

Caixin's chief economist He Fan said the result was partly driven by the stabilisation of output volumes, which had been falling for six months.

Staffing levels continued to decline, marking the seventh month of falling employment in China's factories.

The Caixin survey tends to have a stronger focus on small to medium enterprises than the official PMI data.

The worrying news for Australia's resources sector is the factories reported a further fall in input prices on the back of lower raw material costs.

Dr Fan said while overall new business fell modestly, new export work rose at the fastest rate in more than a year.

"This indicates that pressure on economic growth has eased and fiscal policy has had a strong effect," Dr Fan said.

"Overall, the economy is still on track to become more stable."

Related news & editorials

  1. 16.08.2018
    16.08.2018
    by      In
    Following extensive growth of the business, Beacon Solar (a division of Beacon Lighting Group) has changed its business (trading) name to Beacon Energy Solutions.
    Beacon Solar has been in the energy efficiency/solar market for more than 10 years, with the business initially offering residential... Read More
  2. 15.08.2018
    15.08.2018
    by      In
    BHP’s new $4.8 billion South Flank iron ore mine in the Pilbara is expected to create about 2500 jobs during construction and 600 ongoing roles. But local fabricators are quire rightly up in arms about the company’s decision to award the contract for 20,000 tonnes of structural steel work to... Read More
  3. 14.08.2018
    14.08.2018
    by      In
    The former Trade Commissioner of Denmark to Australia and New Zealand, Michael T Hansen has been named General Manager of Nilfisk in Australia.
    Originally from Denmark, Hansen has more than 25 years of experience in business development and sales.
    Over the last 9 years as Trade Commissioner, Hansen... Read More
  4. 14.08.2018
    14.08.2018
    by      In
    World-renowned physicist Dr Cathy Foley has been named CSIRO Chief Scientist with a brief to help champion science, its impact and contribution to the world. Dr Foley is best known for her work developing superconducting devices and systems that have assisted in unearthing over $6 billion in... Read More