Gauge of Chinese manufacturing drops to 18 month low in Dec
The official purchasing managers’ index (CPMINDX) decreased to 50.1 in December following a final reading of 50.3 in November. However, a PMI for services rose to 54.1 in December from 53.9 in November. Any reading above 50 indicates expansion while any reading below 50 indicates contraction.
Meanwhile, a final purchasing managers’ index (PMI) released by HSBC Holdings and Markit Economics stood at 49.6 for December when compared to a final reading of 50 in November. Some analysts expect that China may experience a sharper than previously expected economic slowdown and have predicted that the country will lower its growth target to 7% for 2015 accordingly.
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