1. Text: | Print|

      China's June manufacturing PMI falls to 50.1

      2013-07-01 10:57 Xinhua Web Editor: qindexing
      1

      The purchasing managers' index (PMI) for the manufacturing sector fell to 50.1 percent in June from 50.8 percent in May, according to data issued by the China Federation of Logistics and Purchasing (CFLP) on Monday.

      The PMI stayed above 50 percent for the ninth consecutive month in June.

      A PMI reading greater than 50 indicates expansion, while a reading below 50 indicates contraction.

      Major PMI compounds all declined in June, indicating downward pressure on the economy, said Zhang Liqun, an analyst with the Development Research Center of the State Council.

      But Zhang also added that economic growth is still in a process of stabilizing. Inventories have reached a historically low level, suggesting limited room for further decreases, he said.

      Investment and consumption remained generally stable in the first five months of the year and the actual export growth rate did not see a significant fall, Zhang explained, adding that policies targeting stable growth will gradually take effect.

      In June, the sub-index for production moved down from 53.3 percent in May to reach 52.0 percent, while the sub-index for new orders lost 1.4 percentage points to hit 50.4 percent, according to a joint statement from CFLP and the National Bureau of Statistics.

      The sub-index for raw material inventories was down 0.2 percentage points from the previous month to 47.4 percent in June, marking the fifth consecutive month of shrinking stocks.

      The sub-index for the purchase prices of raw materials lost 0.5 percentage points to reach 44.6 percent in June, staying below the 50-percent demarcation line for a third consecutive month.

      The data also showed that the employment sub-index for June pared 0.1 percentage points to 48.7 percent, indicating job cuts, while the sub-index for supplier delivery times moved down 0.5 percentage points to 50.3 percent.

      On Monday, British bank HSBC also released its final PMI reading for the manufacturing sector, dropping to 48.2 from May's reading of 49.2 and hitting a nine-month low.

      HSBC's PMI reading, which focuses more on small and medium-sized manufacturers, showed that the sector's production shrank for the first time in eight months.

      Qu Hongbin, chief economist at HSBC China, said China's manufacturing activity was weighed down by declining orders and climbing inventories.

      HSBC cut its forecast for China's GDP growth this year to 7.4 percent in mid-June, down from its previous forecast of 8.2 percent.

      Recent tight liquidity in China's interbank market has also added to concerns regarding China's growth momentum.

      The cash crunch may result in a contraction in commercial banks' off-balance sheet business, worsening financing conditions for small and medium-sized enterprises, according to Qu.

      Qu said slower economic growth will continue over the next few months, as a government stimulus plan is unlikely.

      But there is little risk for a hard landing, as the government has moved to reduce financial risks and stabilize the employment market, according to Qu.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲码欧美码一区二区三区| 亚洲邪恶天堂影院在线观看| 亚洲最大无码中文字幕| 无码区日韩特区永久免费系列 | 久久免费观看国产99精品| 亚洲中文字幕无码爆乳AV| 插鸡网站在线播放免费观看| 久久精品夜色噜噜亚洲A∨| 国产黄色免费观看| 亚洲色WWW成人永久网址| 野花香高清视频在线观看免费| 亚洲精品无码久久久影院相关影片| 中文在线观看国语高清免费| 亚洲色大成网站www永久一区| 十八禁在线观看视频播放免费| 久久精品亚洲视频| 亚洲人成免费网站| 亚洲午夜福利在线视频| 国产一区二区三区无码免费| 一个人看的免费观看日本视频www| 国产综合亚洲专区在线| 中文字幕在线免费| 亚洲国产成人精品无码区花野真一| 免费a级毛片网站| 在线免费观看一级片| 无码亚洲成a人在线观看| 亚洲日韩在线第一页| 四虎影视成人永久免费观看视频| 亚洲国产日韩在线成人蜜芽| 日本特黄a级高清免费大片| 国产免费区在线观看十分钟| 亚洲黄色在线观看| 国产在线不卡免费播放| 久久久久久国产精品免费免费男同 | 国产成人亚洲影院在线观看| 最近的中文字幕大全免费8| 亚洲日韩精品国产3区| 亚洲人成亚洲人成在线观看| 久久久久久久免费视频| free哆拍拍免费永久视频| 亚洲狠狠狠一区二区三区|