ECONOMICS COMMENTARY
Jul 24, 2013
China: Further downturn signalled as flash PMI drops to near post-crisis low in July
Business conditions in China's manufacturing economy deteriorated at the fastest rate for almost a year in July, signalling one of the steepest downturns seen since the 2008-9 financial crisis, according to the HSBC flash PMI produced by Markit. The headline PMI fell from 48.2 in June to 47.7, its lowest since last August and signalling a third successive monthly deterioration of business conditions in China's vast goods-producing sector. Since early-2009, the lowest reading of the PMI has been 47.6.
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