Latest News:  
Beijing   Cloudy    2 / -5   City Forecast

People's Daily Online>>China Business

HSBC China PMI rebounds, but manufacturing contraction remains in Dec.

(Xinhua)

16:51, December 15, 2011

BEIJING, Dec. 15 (Xinhua) -- A non-official preliminary purchasing managers index (PMI) released on Thursday indicated that China's manufacturing activity continued to contract in December even though the reading was higher than that of November.

The HSBC Flash China Manufacturing PMI rose to 49.0 in December, up from a final reading of 47.7 in November, HSBC Holdings PLC said.

A reading above 50 denotes growth, while a reading below 50 suggests contraction.

The rise reflects the results of some easing measures already undertaken by the Chinese government, said Hongbin Qu, HSBC chief economist for China.

"The pace of the slowdown stabilized in December but the growth momentum remains weak with additional downside risks from exports and the property market not yet fully filtering through," Qu said in a note.

"With inflation quickly shifting to disinflation, the Chinese government can and should take more aggressive easing measures on both fiscal and monetary fronts to stabilize growth and jobs," Qu said. Disinflation refers to the decline in the rate of inflation.

The preliminary HSBC China PMI figure is calculated on 85 percent to 90 percent of total responses to HSBC's PMI survey each month, and is issued about one week before the final PMI reading. The final PMI reading for December is scheduled to be released on Dec. 30.

The National Bureau of Statistics and the China Federation of Logistics and Purchasing (CFLP) are expected to release the official PMI data for December on Jan. 1 next year. The CFLP's PMI is based on a survey of purchasing managers in more than 820 companies in 20 industries.

 
 
 
 
We Recommend
 
 
 

Email|Print|Comments(Editor:王莉莉)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Nearly 9 years on, US withdraws from Iraq

  2. 1st twin giraffes celebrate birthday

  3. Scuba divers welcome bowmouth guitarfish at aquarium in Hungary

  4. Consumers throng to shops for coming Christmas in Rio

Most Popular

Opinions

  1. Risks behind India's military buildup
  2. 2011: Year of government micro-blogs
  3. Chance of RMB devaluation small
  4. Narrow vision limits China's discourse power
  5. Dubai chasing Singapore's strictness with violations
  6. Too early to loosen China's property controls
  7. Do not let disputes taint Sino-Korean ties
  8. The natural way to pick your stocks
  9. China must retain its strengths as it goes global
  10. Canada's short-sighted move should be denounced

What's happening in China

2nd Airbus A380 arrives in Beijing

  1. Property prices in big cities declining
  2. More Chinese cities see housing price decline
  3. Drought snags shipping on rivers in S China
  4. Gas explosion kills 9 in central China coal mine
  5. Beijing reaches annual "blue sky days" target

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance