Related News
Manufacturing sector heading towards 7-month low
By Wang Yanlin |
February 21, 2011, Monday
|
Online Edition
Online Edition
CHINA'S manufacturing activities may cool down to a seven-month low in February amid tightening measures, a survey showed today.
The HSBC Flash China Manufacturing Purchasing Managers' Index, a newly launched indicator to measure industrial activities across the country, settled at 51.5 this month, down from the final HSBC PMI of 54.5 in January.
The bank started this month to publish the flash data on a monthly basis about one week before the final PMI. It was based on more than 85 percent of total PMI survey responses and was designed to provide an indication of the final PMI data as the earliest available indicator of China's manufacturing sector.
"Flash PMI data point to a meaningful slowdown," said Qu Hongbin, chief economist at HSBC. "The Spring Festival holiday may be a factor but not the only reason. It also implies that quantitative tightening has started to filter through yet still more needs to be done to check inflation."
China's central bank ordered banks to put aside more money as reserves last Friday to tame price rises and asset bubbles. It was the second such move within a month and ten days after an interest rate increase.
The HSBC Flash China Manufacturing Purchasing Managers' Index, a newly launched indicator to measure industrial activities across the country, settled at 51.5 this month, down from the final HSBC PMI of 54.5 in January.
The bank started this month to publish the flash data on a monthly basis about one week before the final PMI. It was based on more than 85 percent of total PMI survey responses and was designed to provide an indication of the final PMI data as the earliest available indicator of China's manufacturing sector.
"Flash PMI data point to a meaningful slowdown," said Qu Hongbin, chief economist at HSBC. "The Spring Festival holiday may be a factor but not the only reason. It also implies that quantitative tightening has started to filter through yet still more needs to be done to check inflation."
China's central bank ordered banks to put aside more money as reserves last Friday to tame price rises and asset bubbles. It was the second such move within a month and ten days after an interest rate increase.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
