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China’s Manufacturing Index Stalls
A closely watched index of manufacturing activity in China fell to 50.0 in November, exactly between expansion and contraction.
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A closely watched index of manufacturing activity in China fell to 50.0 in November, exactly between expansion and contraction.
It was the lowest reading for the China Purchasing Managers' Index. The ratings are produced by London-based Markit Economics Ltd. for HSBC Holdings plc.
Markit also notes that inventories and manufacturing employment declined last month.
The report blames the slowdown on reduced growth in domestic demand and an uncertain export market. Economists have predicted China's gross domestic product will expand by no more than 7.4% in 2014, its smallest growth rate in 24 years.
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