Home / Business

HSBC flash PMI sinks to a 7-month low

By Chen Jia | China Daily | Updated: 2014-02-21 07:18

China's manufacturing activities are likely to contract for a second consecutive month in February, reaching their lowest point since July, British bank HSBC Holdings Plc said on Thursday.

The manufacturing Purchasing Managers' Index is forecast to drop to a seven-month low of 48.3 from 49.5 in January and 50.5 in December, due to slumps in each sub-index, including output, new orders and employment, HSBC said.

The flash reading of the HSBC manufacturing PMI in February may have reflected renewed destocking activities as new orders and production contracted, said Qu Hongbin, chief economist in China and co-head of Asian Economic Research at the bank.

HSBC flash PMI sinks to a 7-month low

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349