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A Chinese manufacturing gauge trailed economists’ estimates in April as new orders declined.
The final Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics was at 48.9, missing the median estimate of 49.4 in a Bloomberg survey and lower than the preliminary reading of 49.2. Numbers below 50 indicate contraction.
The deterioration contrasts with the official manufacturing PMI for April that suggested a stabilization. China’s economy is slowing, spurring policy makers to loosen monetary policy and pledge targeted steps to counter downward pressure.
“As the economy still faces strong headwinds and the risk of deflation has not diminished, the authorities will need to continue to roll out easing measures in the coming months,” Liu Li-Gang, chief Greater China economist in Hong Kong at Australia & New Zealand Banking Group Ltd., wrote in a note before the release Monday.
Source: http://www.bloomberg.com/news/articles/2015-05-04/china-s-final-hsbc-manufacturing-pmi-weakens-further-in-april
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