Flash factory PMI hits 8-month low

By Wang Yanlin | March 24, 2014, Monday |

Online Edition

CHINA’S manufacturing activity may contract further in March with a preliminary survey reading falling to an eight-month low.

The HSBC Flash China Manufacturing Purchasing Managers’ Index, the earliest available indicator of China’s industrial sector’s vitality, dropped to 48.1 last month from February’s final index of 48.5, said HSBC Holdings and research firm Markit today.

A reading below 50 means contraction, and the latest figure registered the third consecutive month under that threshold.

Qu Hongbin, chief economist for China at HSBC and co-leader of its Asian Economic Research, said the index moderated further, indicating the economy continued its downward trend since the beginning of the year.

“The external demand was kept steady but the domestic demand weakened,” Qu said. “We expect the authorities will carry out accommodative policies to stabilize the growth, including moves such as lowering the threshold for private investment and more funding for urbanization.”

Qu said monetary policy could be made more supportive toward the real economy.

Economy

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Flash factory PMI hits 8-month low

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