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Manufacturing Activity Slows in China
The HSBC purchasing managers' index for manufacturing activity in China fell to an eight-month low of 48.1 in March from 48.5 in February.
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The HSBC purchasing managers' index for manufacturing activity in China fell to an eight-month low of 48.1 in March from 48.5 in February. Any number below 50 indicates contraction.
The global banking and financial services company, which produces the index with London-based Markit Economics Ltd., issued a flash report earlier today. Final results are due on April 1.
The March index indicates accelerating declines in output, input and output prices, new orders, backlogs and purchase quantities. Stocks of finished goods are growing at a faster rate.
HSBC says this month's index indicates broadly based weakness and continuing softening of domestic demand in China. The firm predicts Beijing will attempt to stabilize growth by easing lending rates, lowering entry barriers for private investment and increasing its spending on subways, air quality initiatives and public housing.
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