HSBC China's manufacturing PMI at eight-month low
Updated: 2014-03-24 10:23
(Xinhua)
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BEIJING - China's manufacturing activity contracted for the third month in a row in March, hitting an eight-month low, according to HSBC's preliminary purchasing managers' index (PMI) released on Monday.
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PMI above 50 indicates expansion and below 50, contraction.
January saw HSBC China manufacturing PMI dipping to 49.5 from 50.5 in December, the first deterioration of operating conditions in China's manufacturing sector since July 2013.
Commenting on the figure, HSBC's chief China economist Qu Hongbin said March's flash reading suggested China's growth momentum continued to slow down, and weakness was broadly-based with domestic demand softening further.
"We expect Beijing's policy will stabilize growth. Likely options include lowering entry barriers for private investment; targeted spending on subways, air cleaning and public housing; and guiding lending rates lower," Qu said.
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Feb manufacturing PMI drops to 50.2 2014-03-01 17:13
HSBC China's preliminary PMI at seven-month low 2014-02-20 16:10
PMI continues to weaken 2014-03-03 16:21
China's non-manufacturing PMI rebounds 2014-03-03 09:52
HSBC flash PMI sinks to a 7-month low 2014-02-21 02:51
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