Thursday, April 17, 2014   

China factory output falls
(12-16 10:41)

China's manufacturing activity in December expanded at its slowest rate in three months, a private survey shows.
HSBC’s preliminary purchasing managers' index tracking the world's second-largest economy came in at 50.5 for the month, down from a final reading of 50.8 in November and the lowest since September.
The index tracks manufacturing activity in China's factories and workshops. A reading above 50 indicates growth, while anything below signals contraction.
New factory orders edged up to a nine-month high.
The preliminary PMI reading for December “still stands above the average reading for the third quarter, implying that the recovering trend of the manufacturing sector starting from July still holds up,'' Qu Hongbin, an HSBC economist in Hong Kong, said in a statement.
The bank expects economic growth to stabilize at 7.8 percent year-on-year in the October-December period, unchanged from the official figure for the third quarter.—AFP

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