Arab Today, arab today china manufacturing activity still weak
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

China manufacturing activity still weak

Arab Today, arab today

Arab Today, arab today China manufacturing activity still weak

Shanghai - AFP

China\'s manufacturing activity contracted for a third straight month in January as the world\'s second largest economy slows, boosting the case for further monetary easing, HSBC said Friday. The preliminary HSBC purchasing managers\' index (PMI) stood at 48.8 in January, up marginally from 48.7 in December, the British banking giant said in a statement. A reading above 50 indicates expansion while a reading below 50 suggests a contraction. Final results will be released on January 31. \"The third consecutive below-50 reading of the manufacturing PMI suggested that growth is likely to moderate further,\" Qu Hongbin, HSBC chief economist for China, said in the statement. \"We expect more policy easing to stabilise growth,\" he said. The country\'s manufacturing activity contracted in November for the first time in 33 months, according to separate figures from the China Federation of Logistics and Purchasing (CFLP). The economy expanded 9.2 percent last year, slowing from 10.4 percent in 2010, figures released this week showed, as global turbulence and efforts to tame high inflation put the brakes on growth. Gross domestic product grew 8.9 percent in the fourth quarter alone, the National Bureau of Statistics said, slower than in the third quarter. In a bid to boost growth and counter turmoil in the key export markets of Europe and the United States, China in December cut the amount of money banks must hold in reserve for the first time in three years. Zhang Xinfa, a senior economic analyst at Galaxy Securities in Beijing, told AFP: \"The preliminary data shows the trend of a rebound in China\'s manufacturing activity, though it is not strong. \"However, demand -- especially domestic demand -- is not strong enough to reduce inventories and it is still affected by the overall economic environment,\" he added. New manufacturing orders also contracted in December from November, but new export orders expanded, HSBC said. It gave no figures. \"The ongoing slowdown of investment and exports implies more headwinds to growth and likely destocking pressures for manufacturers in the coming months,\" said Qu of HSBC. China\'s exports rose 20.3 percent to $1.899 trillion in 2011, slowing from an increase of 31.3 percent in 2010. The measure of PMI by HSBC has differed from official figures, which showed China\'s manufacturing unexpectedly rebounded in December on holiday shopping. The CFLP said its PMI gauge reached 50.3 last month, indicating an expansion. Chinese stocks were higher after the PMI announcement, as investors still believe that the economic slowdown is moderate and China will not suffer a \"hard landing\" of its economy, dealers said. The benchmark Shanghai index was up 0.37 percent at midday.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china manufacturing activity still weak Arab Today, arab today china manufacturing activity still weak

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china manufacturing activity still weak Arab Today, arab today china manufacturing activity still weak

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday