Latest News:  

English>>Business

China manufacturing drops to 11-month low in July: HSBC

(Xinhua)

13:12, July 24, 2013

HONG KONG, July 24 (Xinhua) -- China's manufacturing operating conditions deteriorated at the quickest pace since last August, with HSBC's flash purchasing managers' index (PMI) dropping to 47. 7 in July, an HSBC report showed Wednesday.

HSBC said flash PMI this month fell to 47.7, down from a final 48.2 in June and the lowest in 11 months. Flash China Manufacturing Output Index also fell from 48.6 in June to 48.2 this month, hitting a nine-month low.

A PMI reading above 50 indicates growth, while a reading below 50 indicates contraction.

"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," said Hongbin Qu, chief economist at HSBC.

He said this adds more pressure on the labor 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 stabilize growth.

The HSBC Flash China Manufacturing PMI is published on a monthly basis approximately one week before final PMI data are released, making the HSBC PMI the earliest available indicator of manufacturing sector operating conditions in China. The estimate is typically based on approximately 85 percent to 90 percent of total PMI survey responses each month and is designed to provide an accurate indication of the final PMI data.

We Recommend:

Migrant workers' high incomes not that rosy

Glamorous girls highlight Hainan auto show

Top 10 profitable companies in China

Born to lead: 2nd gen of Chinese tycoons

How foreign firms deepen China’s milk headache?

Where is the end of the slump of gold price?

Cross-sea bridge to open in E China

GSK execs allegedly received sexual services

In pictures: history of China's auto industry

Email|Print|Comments(Editor:ChenLidan、Ye Xin)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Special operation members in contest

  2. Members of PLA special forces

  3. New prince makes first appearance

  4. Bird's Nest adds new attraction

  5. 196 villagers' death-defying getaway

  6. Blast rips through bakery in Beijing

  7. 29 gorgeous castles from around the world

  8. Press of 'Crimes of Passion'

  9. EU regulation enhances toy safety

  10. Imports of French wine go sour

Most Popular

Opinions

  1. Skipping breakfast may increase heart disease risk
  2. Economic restructuring helps China's growth
  3. New thinking needed for Korean crisis
  4. Jobless rate to be 'last straw' for policy direction
  5. Abe should focus more on Japan's economy
  6. Are 'dark fairy tales' appropriate for children?
  7. Xi Murong: Poets and poetry never die
  8. Chinese brands should ‘be bold’
  9. Yuan rises 34% against USD, what next?
  10. How strong is China company?

What’s happening in China

Blast rips through bakery in downtown Beijing

  1. Littering from car window to be punished in Beijing
  2. Unions should help workers get allowances
  3. Poultry markets closed for H7N9 case in Langfang
  4. NW China downpours kill 11
  5. Traffic accident kills 16 in E China