China factory sector News
A key indicator of China's manufacturing activity slumped to a 77-month low in August, an independent survey showed today, fuelling concerns of further deceleration in the world's second-largest economy.
The global economy started the second half of the year on shaky ground as business activity in the euro zone was weaker than expected and China`s vast factory sector appeared to be contracting at the fastest pace in 15 months in July.
China`s factory sector contracted by the most in 15 months in July as shrinking orders depressed output, a preliminary private survey showed on Friday, a worse-than-expected result that should reinforce bets the struggling Chinese economy will get more stimulus.
The flash HSBC/Markit Purchasing Managers` Index (PMI) dipped to 49.2 in March, below the 50-point level that separates growth in activity from a contraction on a monthly basis.
A reading below 50 indicates contraction, while one above 50 points to expansion on a monthly basis.
China`s official manufacturing PMI for August, reported on Monday, was 51.1, compared with 51.2 in a Reuters poll and July`s 51.7.
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