China manufacturing activity slips to 11-month low

Image
ANI London
Last Updated : Jul 25 2013 | 12:35 PM IST

Activity in China's manufacturing sector fell to an 11-month low in July following decline in new orders.

HSBC's Purchasing Managers' Index (PMI), which is a key indicator of activity in the sector and a reading below 50 shows contraction, fell to 47.7 from 48.2 in June.

According to the BBC, this is the third month in a row that the HSBC reading has been below that level.

Data released earlier this month showed that China's economic growth slowed in the April to June period, the second straight quarter of weaker expansion.

China's manufacturing and export sectors have been key drivers of its economic growth over the past decades.

However, demand for the country's exports has slowed recently, especially from key markets such as the US and Europe as they grapple with slowing economic growth, the report added.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 25 2013 | 12:31 PM IST

Next Story