China manufacturing PMI deteriorates at fastest rate since August

HONG KONG – Operating conditions in China’s manufacturing sector are continuing to deteriorate, according to the HSBC Flash China Manufacturing PMI (Purchasing Managers’ Index) released today. It has come in at 47.7 (48.2 in June), an eleven-month low, while the Flash China Manufacturing Output Index came in at 48.2 (48.6 in June), a nine-month low. The HSBC Flash PMI is published monthly about one week before official final PMI data is released. In the breakdown, new orders decreased at a faster rate, while new export orders also decreased, but at a slower rate than in June. Both inut nd output prices decreased, but at a slower rate.