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HSBC: China PMI falls again in June

06-21-2012 13:58 BJT Special Report:China's Economic Data |

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Newly released figures on China's manufacturing industry shows the country's factories continues to shrink in June.

HSBC's preliminary reading of the country's Purchasing Managers Index comes in at 48.1 -- that's below May's final reading of 48.4. It's also below that magic number 50, which separates growth from contraction.

The reading is a seven month low, and it's being blamed on a slump in new export orders. HSBC's final PMI reading, which mainly covers small and medium sized factories, will be released on July 1st, the same day the official PMI figures are released. The official PMI mainly focuses on larger companies.

Editor:Zhang Jianfeng |Source: CNTV.CN

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