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China’s manufacturing sees fresh decreases in April: HSBC

by ChemOrbis Editorial Team -
  • 24/04/2015 (11:11)
According to a flash purchasing managers’ index (PMI) compiled by HSBC and Markit Economics, China’s manufacturing activity fell to a 12 month low in April. HSBC and Markit’s PMI for the country’s manufacturing sector declined to a reading of 49.2 in April after posting a reading of 49.6 in March. Any figure below 50 indicates a contraction. Economists’ initial estimates called for a reading of 49.6 in a survey by Reuters.

Economists commented that the latest figures showed that demand remains weak and there is some deflationary pressure on the country’s manufacturing sector as both input and output prices are declining.

Meanwhile, according to data released by China’s National Bureau of Statistics (NBS), the country’s economic growth slowed in the first quarter of this year to post the weakest growth rate since the first quarter of 2009. China’s gross domestic product (GDP) rose 7% on the year in the first three months after growing by 7.3% in the last quarter of 2014.
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