China’s manufacturing growth has slouched more than estimated in August, due to feeble global demand and stagnation in domestic investment. The government’s Purchasing Managers’ …
The newest findings showed that China’s factory output contracted in May, strengthening concerns over world’s second economy growth. The contraction, which was driven by anemic export orders and weak domestic demand, indicated that China was losing its stem in the second quarter of the year. But what is interesting is the fact that HSBC data showed a more pessimistic picture of the China’s economy as official figures indicated that manufacturing rose in May.
Apparently, signs of the China’s economic recovery are weakening as the latest flash manufacturing PMI showed that factory activity slumped significantly in May. Data released by HSBC Holdings Plc indicated that the economic growth of the world’s second economy was visibly slackening in the second quarter of the year. It seems that bad days are gathering over China’s manufacturing.
It seems that black clouds are again over China. The world’s second economy saw its manufacturing activity slow down in April more than expected, raising fears that the highly-anticipated recovery was not strong enough. The drop in the China’s manufacturing PMI in April awoke fears that the slowdown in the China’s economy would also be witnessed in the second quarter.
On the 1st of March, the National Bureau of Statistics released its data showing that the China’s manufacturing sector slowed down in February. The slower-than-expected expansion suggests that the China’s economic recovery might be losing its momentum. Data showed that the significant gauge dropped to 50.1 in February from 50.4 in January.
Initial data on China’s manufacturing activity indicated a sharp decrease in February, raising concerns over the recovery of the Asian dragon. The deceleration was driven by weak global demand for China’s exports and the timing of the week-long Lunar New Year holiday. A survey by HSBC and Markit Economics showed that China’s manufacturing expanded at the slowest rate in four months.
China’s manufacturing activity surprisingly expanded at the fastest rate in approximately 19 month, according to a key manufacturing index released on the 31st of December. A sub-index for new orders showed that the world’s second economy was on track to recovery, boosting optimism in markets.
China’s manufacturing improved in the month of October as output and new orders increased. Data, which was published on the 1st of November, showed that the world’s second-largest economy might be recovering from the slowest pace of growth in almost three years.
The month of May brought sunshine to the United Kingdom, in more than one way. As per the Office for National Statistics, the Retail Sales rose by 1.4 percent against the prediction of 1.2 percent, which led to an annual rise by 2.4%. While clothing and footwear were the show stoppers, plus food and drink also doing fairly well, the big tickets on the other hand had to suffer with restrained shopping, if not dwindle, on account of the reserved minds for jobs and economy as a whole.
The annual growth rate for the first quarter is 8.1 percent, the slowest in three years for China. Considering the slack and downturn in Chinese Manufacturing market raising all the fears of a worse than expected setback, the Chinese government has revised the economic growth target to just 7.5 percent, downgrading itself from its 9.2 percent growth last year and 10.4 percent growth in 2010.
Due to weak economic growth projections in the United States, slumping manufacturing activity in China, and continuing instability in Europe, oil prices dropped yesterday …