Wednesday, April 23, 2014   

China factory output weakens in December
(01-02 11:43)

Manufacturing in China grew at its slowest pace in three months in December, a private survey confirmed.
HSBC’s purchasing managers' index, which tracks manufacturing in factories and workshops, came in at 50.5 last month, unchanged from a preliminary reading two weeks ago, AFP reports.
A reading above 50 indicates growth, while anything below signals contraction.
The December figure was down from 50.8 in November and marked the weakest growth since September when the reading was 50.2.
Today's data came a day after the National Bureau of Statistics announced that its official PMI slowed to 51 last month from November's 51.4. That marked the 15th consecutive month of growth, but the first time since June that the figure had dipped from the previous month.
HSBC said new orders, a component of its PMI, gained at a fractionally slower pace from November, with business from abroad posting a marginal decline for the first time in four months.
Qu Hongbin, an HSBC economist in Hong Kong, said in a statement the easing in last month's PMI was mainly due to modest output growth, which weakened from November's eight-month high.
But the fact that the index has sustained a fifth straight expansionary reading suggested the Chinese economy has been holding up well, he said.
“The recovering momentum since August 2013 is continuing into 2014,'' Qu said.
   
Other Business breaking news:
China to increase natural gas supply (26 mins ago)
China Mobile profit down (48 mins ago)
European markets open flat (1 hr 1 min ago)
Australia sees higher price levels in first quarter (1 hr 29 mins ago)
Nikkei rallies at close (2 hrs 26 mins ago)
US ships 10pc more fuel in 2013 (04-23 13:23)
Hang Seng down at mid-day (04-23 12:13)
CRH appoints new chairman (04-23 11:39)
China manufacturing shrinks in April: survey (04-23 11:06)
Nikkei rises by break (04-23 10:47)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.