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March sees China's manufacturing rebound
By Winny Wang |
March 24, 2011, Thursday
|
Online Edition
Online Edition
CHINA'S manufacturing activities may grow at a faster pace this month amid stronger expansion of production backed by new export order growth, a survey showed today.
The HSBC Flash China Manufacturing Purchasing Managers Index, an indicator to measure industrial activities across the country, stood at 52.5 this month, higher than the HSBC PMI of 51.7 in February. Flash China Manufacturing Output Index stood at 55.1, compared with 51.9 in February.
"Growth of the manufacturing sector bounced back a little this month after slowing in February. This should reduce concerns about a sharp slowdown in growth," said Qu Hongbin, co-head of Asian Economic Research at HSBC.
"Meanwhile, the increase in both input and output prices sub-indices started to slow, implying Beijing's policy tightening is working to contain inflationary pressures without choking off growth. We expect Beijing to keep tightening in the coming months. Combined with supply-side cooling measures, this should slow inflation meaningfully by the middle of the year," Qu said.
The HSBC Flash China Manufacturing Purchasing Managers Index, an indicator to measure industrial activities across the country, stood at 52.5 this month, higher than the HSBC PMI of 51.7 in February. Flash China Manufacturing Output Index stood at 55.1, compared with 51.9 in February.
"Growth of the manufacturing sector bounced back a little this month after slowing in February. This should reduce concerns about a sharp slowdown in growth," said Qu Hongbin, co-head of Asian Economic Research at HSBC.
"Meanwhile, the increase in both input and output prices sub-indices started to slow, implying Beijing's policy tightening is working to contain inflationary pressures without choking off growth. We expect Beijing to keep tightening in the coming months. Combined with supply-side cooling measures, this should slow inflation meaningfully by the middle of the year," Qu said.
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