China’s manufacturing down for first time in 7 months in Dec
A final purchasing managers’ index (PMI) released by HSBC Holdings and Markit Economics for China stood at 49.6 for December when compared to a final reading of 50 in November. Any reading below 50 suggests contraction.
Weaker manufacturing data is the latest in a series of signals that China may experience a sharper than previously expected economic slowdown. Many analysts now feel that the government’s economic growth target of 7.5% will be missed this year, with some analysts predicting that China will lower its growth target to 7% for 2015.
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