国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Macro

Output growth hits 4-month low, says HSBC

By Chen Jia in Beijing and Xie Yu in Shanghai (China Daily) Updated: 2013-02-26 10:14

Output growth hits 4-month low, says HSBC

Workers manufacture baby strollers at a company in Zaozhuang, Shandong province. The HSBC flash purchasing managers' index for February slipped to 50.4, the lowest in four months. [Photo / China Daily]

China's manufacturing production growth hit a four-month low in February, dented by the Chinese New Year holiday and continued weakness in external demand, banking giant HSBC Holdings Plc said on Monday.

A prediction saw the manufacturing Purchasing Managers' Index retreat to 50.4 in February from 52.3 in January, but still showing the sector was expanding, HSBC said.

A reading above 50 indicates expansion and it was the fourth consecutive month of growth, after 12 months of contraction.

"It means the underlying strength of China's recovery remains intact, as indicated by still-rising employment and the recent pickup of credit growth," said Qu Hongbin, HSBC's chief economist for China and co-head of Asian economic research.

The preliminary reading was released by the bank a week before the official data by the National Bureau of Statistics, and is the earliest available indicator of conditions in the manufacturing industry.

The moderation in HSBC's PMI prediction was mainly led by weaker growth in new orders, with the relevant sub-index declining to 51.2 in February from January's 53.7, the lowest level for three-months.

Another sub-index showed new export orders fell to 49.8 this month, compared with 50.5 a month earlier, and indicating that exports have turned to contraction from modest growth, according to HSBC.

Output growth hits 4-month low, says HSBC

Sun Yingli, general manager of Shanghai Manlang Textile Co, a garment manufacturer relying mainly on orders from Europe and Japan, said: "Actually, orders have grown this year, maybe due to economic recovery in overseas markets, but costs are surging and we have had to give up some orders to keep the profit margin."

Sun said prices for 90 percent of raw materials are rising, in addition to higher labor costs.

"Everything - thread, yarn, dyes - has become more expensive. We can do nothing but shrink the production scale to survive," she said.

Qu said that over the past three years, the average moderation of the PMI during the Chinese New Year months was 1.4 points, during which most manufacturing production takes a week's break.

He said the manufacturing sector remains optimistic, suggested by the continuous expansion of raw material purchases.

"More importantly, robust labor market conditions should provide additional support to continued consumer spending growth in coming months."

Find more in

Output growth hits 4-month low, says HSBC

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
尼木县| 密山市| 兴城市| 石台县| 武胜县| 岑巩县| 楚雄市| 靖西县| 新丰县| 平和县| 崇礼县| 察雅县| 上林县| 齐齐哈尔市| 达孜县| 韶山市| 东光县| 祥云县| 罗源县| 科尔| 象州县| 阜宁县| 永登县| 保康县| 喀喇| 常山县| 清徐县| 琼海市| 东城区| 怀远县| 安宁市| 沧州市| 章丘市| 合阳县| 抚松县| 阆中市| 曲阳县| 长乐市| 汕头市| 高台县| 沁水县|