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Gauge of Chinese manufacturing drops to 18 month low in Dec

by ChemOrbis Editorial Team -
  • 02/01/2015 (13:17)
According to data released by the National Bureau of Statistics and China Federation of Logistics and Purchasing, an official gauge of Chinese manufacturing declined to an eighteen month low in December. Weaker demand, a softening real estate market and lower exports were blamed for the country’s disappointing manufacturing figures.

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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