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China's manufacturing activity at 9-month low: HSBC


13:18, June 20, 2013

BEIJING, June 20 (Xinhua) -- China's manufacturing activities fell to a nine-month low this month, according to a preliminary survey from HSBC.

The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for June fell to 48.3, the lowest level since October and down from 49.2 in May, according to figures released by HSBC on Thursday.

An index reading above 50 indicates expansion, while a reading below 50 means contraction.

Qu Hongbin, chief economist of HSBC China, said China's manufacturing sectors are weighed down by waning external demand, moderating domestic demand and rising destocking pressures.

The sub-index for manufacturing output dropped to an eight-month low of 48.8, while those for new orders and new export orders both fell from the previous month, the data show.

Qu said he expects China to see slightly weaker growth in the second quarter, as ongoing reforms may have a limited impact in the short term.

HSBC on Wednesday cut its forecast for China's GDP growth this year to 7.4 percent, down from its previous forecast of 8.2 percent.

China's GDP growth slowed to 7.7 percent in the first quarter from 7.9 percent recorded during the last quarter of 2012, data from the National Bureau of Statistics show.

The government has set its growth target for this year at 7.5 percent in a bid to seek quality and efficient economic growth.

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Email|Print|Comments(Editor:WangLili、Chen Lidan)

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concern at 2013-06-21219.92.201.*
For what i seen from countries with high GDP previously, mostly depend for decade, period of 10 years, planning of big project infrastructures investment and high exports. This two category MUST RUN simultaneously, created high revenues or income for peoples , and focus mainly for money circulated around inside the country. Peoples will then spending more that indirectly boost up the dosmetic consumption demand. Created more easily credit channels for the citizens only allowed more bad debts.BIG PROJECT INVESTMENT CREATING INCOME FOR COMAPNIES AND PEOPLES ,AND BOOSTED THE DOSMETICS CONSUMPTION . THE RELATED COUNTRY MUST HAVE SUFFICIENT FUND TO SUPPORT THE BIG PROJECT INVESTMENTS FOR 10 YEARS PLANNING THAT SCALING TO OTHER PROVINCE THAT LESS DEVELOPMENT. EXPORTS ALSO CREATING REVENUES FOR THE COUNTRY IF HANDLED PROPERLY, CREATED MORE INCOME FOR COMPANIES AND PEOPLES, INDIRECTY WILL BOOST UP THE SPENDING IN THE COUNTRY. MORE INVESTMENTS AND EXPORTS --- MORE REVENUES ---- MORE COMPANIES AND PEOPLES SPENDING ---- MORE HIGHER DOMESTIC DEMAND ---- HIGHER CONSUMPTIONS
Wende at 2013-06-2198.109.105.*
The devaluation moves from US, EU and Japan are making Chinese products more expensive. The bigger problem is that many Chinese products are costing more from the trade protection moves that China needs to fight back.

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