Wednesday, 24 July 2013

Economic Buzz: China Manufacturing Gauge Hits 11-Month Low: HSBC

China's manufacturing-sector activity is slowing further in July, with new factory orders deteriorating at a faster pace, according to preliminary data out Wednesday from HSBC and Markit. The so-called flash version of HSBC's Chinese manufacturing Purchasing Managers' Index dropped to 47.7, an 11-month low and down from a final result of 48.2 for June, with any reading below 50 indicating contraction. A separate government version of the June PMI printed at 50.1. The flash PMI -- which includes about 85%-90% of the survey responses that will be used for the final version -- also showed new export orders slowing, albeit at a slower rate than in the previous month.
Source by Commodity Insights

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