24 Jul 2013
China HSBC PMI at 11-month low
FXstreet.com (Barcelona) - HSBC Manufacturing PMI (Jul) came at 47.7 vs 48.2, an eleven month low, while the Flash China Manufacturing Output Index stood at 48.2 (48.6 in June), a 9-month low.
Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said: “The lower reading of the July HSBC Flash China Manufacturing PMI suggests a continuous slowdown in
manufacturing sectors thanks to weaker new orders and faster destocking. This adds more pressure on the labour market. As Beijing has recently stressed to secure the minimum level of growth required to ensure stable employment, the flash PMI reinforces the need to introduce additional fine-tuning measures to stabilise growth."
Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC said: “The lower reading of the July HSBC Flash China Manufacturing PMI suggests a continuous slowdown in
manufacturing sectors thanks to weaker new orders and faster destocking. This adds more pressure on the labour market. As Beijing has recently stressed to secure the minimum level of growth required to ensure stable employment, the flash PMI reinforces the need to introduce additional fine-tuning measures to stabilise growth."