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Asia Economy Last Updated: Dec 16, 2013 - 2:12 PM


China's manufacturing activity slowed to a three-month low in December
By Finfacts Team
Dec 16, 2013 - 8:09 AM

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The HSBC flash purchasing managers' index (PMI) dropped to 50.5 for the month, compared to 50.8 in November. Sub-indexes tracking new orders and new export orders rose at a faster rate, while employment and stocks of purchases decreased at a faster rate.

Flash China Manufacturing PMI™at 50.5 in December (50.8 in November) - - a tree-month low while the flash China Manufacturing Output Index at 51.8
in December (52.2 in November) was at a two-month low. Data collected 5–12 December 2013.

The HSBC Flash China Manufacturing PMI is published on a monthly basis ahead of final PMI data, making the HSBC PMI the earliest available indicator of manufacturing sector operating conditions in China. The estimate is typically based on approximately 85%–90% of total PMI survey responses each month and is designed to provide an accurate indication of the final PMI data. December final PMI data will be released on 2 January 2014.

Hongbin Qu, chief economist, China & co-head of Asian Economic Research at HSBC said: “The December HSBC Flash China Manufacturing PMI reading slowed marginally from November’s final reading. But it still stands above the average reading for 3Q, implying that the recovering trend of the manufacturing sector starting from July still holds up. As a result, we expect China's GDP growth to stabilise at around 7.8% yoy in 4Q.”

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