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16 Dec 2013

Flash PMI at three-month low

Flash PMI at three-month low

Manufacturing conditions in China slowed in December

Manufacturing conditions in China fell to a three-month low in December, according to the HSBC Flash China Manufacturing Purchasing Managers’ Index™ (PMI™). The index dropped to 50.5, from 50.8 in November.

The December HSBC Flash China Manufacturing PMI™ reading slowed marginally from November’s reading

Qu Hongbin,
Chief Economist for Greater China, HSBC

Despite the fall, growth in new orders increased to a nine-month high, while output also increased, albeit at a slower rate. New exports orders rose, at a faster rate. Employment decreased, at a faster rate.

Qu Hongbin, Chief Economist for Greater China and Co-Head of Asian Economic Research, said: “The December HSBC Flash China Manufacturing PMI™ reading slowed marginally from November’s reading. But it still stands above the average reading for 3Q, implying that the recovering trend of the manufacturing sector starting from July still holds up. As a result we expect China’s GDP growth to stabilise at around 7.8 per cent year-on-year in 4Q.”

The Flash PMI™ is the earliest available indicator of operating conditions in China. It is published around a week before the final PMI™ data is released and is based on around 85 per cent to 90 per cent of total PMI™ survey responses.

The Flash China Manufacturing Output Index hit a two-month low in December. The index fell to 51.8, from 52.2 in November.

The final December data will be published on 2 January 2014.

The intellectual property rights to the HSBC Flash China Manufacturing PMI™ provided herein is owned by Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon. In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are trade marks of Markit Economics Limited, HSBC use the above marks under license. Markit and the Markit logo are registered trade marks of Markit Group Limited.

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