July 12, 2020

China manufacturing conditions fall to seven-month low


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china-workersBy Rob Wile From Business Insider

’s manufacturing conditions fell to a seven-month low of 48.3 in February, according to a flash reading from .

Analysts expected a reading of 49.5, unchanged from January. Anything below 50 signals contraction.

The production sub-index fell to 49.2 versus 50.8 in January.

The employment sub-index hit the lowest level since Feb. 2009.

HSBC’s commented:

screen shot 2014-02-19 at 8.52.22 pm“February’s flash reading of the HSBC PMI moderated further as new orders and production contracted, reflecting the renewed destocking activities. The building-up of disinflationary pressures implies that the underlying momentum for manufacturing growth could be weakening. We believe Beijing policy makers should and can fine-tune policy to keep growth at a steady pace in the coming year.”

Attached is the full table of sub-indexes. Everything got worse!

PHOTO: Workers are pictured in front of a billboard showing an image of trees near a subway construction site in central Nanjing, Jiangsu province, February 19, 2014.

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