HSBC China PMI Reading Shows Ongoing Slowing
HSBC measures China’s PMI and releases its numbers ahead of China’s official figures. It reported today a reading of 48.8 for January compared to 48.7 in December. A number under 50 represents contraction. The debate which followed the release has gone on…
HSBC measures China’s PMI and releases its numbers ahead of China’s official figures. It reported today a reading of 48.8 for January compared to 48.7 in December. A number under 50 represents contraction.
The debate which followed the release has gone on for months. China may not be able to recover its factory activity if demand for its goods does not increase in troubled UK, EU, and Japan economies. The US, which appears to have renewed GDP growth, coupled with developing nations, do not have enough purchasing power to make up from economic problems, particularly in Europe.
Monetary easing may help supply money to the Chines markets, but probably cannot make up for such large slowing in demand
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