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China’s manufacturing down for first time in 7 months in Dec

by ChemOrbis Editorial Team - content@chemorbis.com
  • 31/12/2014 (11:42)
China’s manufacturing activity decreased for the first time in seven months in December, according to a Purchasing Managers’ Index (PMI) from HSBC Holdings and Markit Economics. Decreases in total new orders and softening in both local and external demand were cited as the main reasons behind the country’s weaker manufacturing activity.

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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