China’s manufacturing slows: HSBC

Beijing, May 23 (IANS) China’s manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed.

The HSBC Flash Manufacturing Purchasing Managers’ Index (PMI) for May fell to 49.6 in May, dropping under the boom-bust line of 50 for the first time since October, according to figures released by HSBC Thursday.

Qu Hongbin, chief economist of the HSBC China, said that weak demands at home and abroad have dragged down the preliminary PMI reading and the country is facing rising downward risks in the second quarter.

Facebook Notice for EU! You need to login to view and post FB Comments!

The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.