China: Manufacturing Sector Shrinks

February 1st, 2015
in News, econ_news, syndication

Original post: 01 February 2015, 1:59 am EST

Updated: 02 February 2015, 1:49 am EST

Econintersect (update):  The final HSBC Manufacturing PMI (Purchacing Managers' Index) recorded it's second month in a row below 50, with a reading of 49.7, up slightly from December 2014 value of 49.6.  More for this update in new article here.

Econintersect:  The official PMI (Purchasing Managers' Index) reported a reading of 49.8 breaking-news-130px7in January, just below the 50 mark which is the demarcation between expansion and contraction.  This was the first monthly contraction in 2 1/2 years and was not unexpected:  10 of 11 economists in a Reuters' poll expected a reading above 50 with the consensus being 50.2.  The December number was 50.1.  Another PMI survey taken by HSBC and reported by Markit had a preliminary ("flash") value of 49.6 for January, reported last week.  The final reading for that survey is due 02 February 2015.

Follow up:

Following a strong recovery from the Great Recession where the manufacturing PMI rose to 56, the index has been in a declining trend for the five years since.  Sources quoted by Reuters indicated they thought monetary loosening by China was becoming increasingly likely with the latest data.


Update: 02 February 2015, 1:49 am EST.  See new article.


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