BEIJING (Reuters) - China's factory sector contracted for an eighth straight month in June, with export orders and prices turning in their weakest showing since early 2009, a private-sector survey showed on Thursday.
China's factory sector contracted for an eighth straight month in June, with export orders and prices turning in their weakest showing since early 2009, a private-sector survey showed on Thursday. The ...
BEIJING: China's factory sector contracted by the most in 15 months in July as shrinking orders depressed output, a preliminary private survey showed on Friday, a worse-than-expected result that comes on the heels of a stock market crash which began in June. The flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 48.2, the lowest reading since April last year and a fifth straight month below 50, the level which separates contraction from expansion.
China HSBC flash PMI, a private gauge of mainland manufacturing, rose to an 18-month high in July of 52, from 50.7 in June. The manufacturing activity surpassed the expectations of 51 as new orders and export orders surged, and factory production expanded at its fastest pace in 18 months in July. The reading is above 50, and signifies growth for the second consecutive month.
The outlook for the global economy became bleaker on Wednesday as signs of a deeper manufacturing downturn in China emerged, coupled with slow growth in Europe and the United States. "There is substantial concern at present that global demand weakness is dampening the economy in the industrial countries," said Jorg Kramer, chief economist at Commerzbank. China's factory sector activity shrank at its fastest rate in more than 6 years in September, according to the monthly Caixin/Market survey, sending investors worried about sagging global growth scurrying out of risky assets.
The HSBC Flash China Manufacturing PMI™ report shows Operating conditions continue to improve in December.
Flash China Manufacturing PMI™ at 50.9 (50.5 in November). Fourteen-month high.
Flash China Manufacturing Output Index at 50.5 (51.3 in November). Two-month low.
Data collected 5–12 December 2012.
The HSBC Flash PMI, the earliest monthly indicator of China's industrial activity, fell to a seven-month low of 48.1 in June, as export orders and prices turned in their weakest showing since early 2009.