30 Jan 2014
China's HSBC PMI for Jan revised slightly lower
FXstreet.com (Bali) - The final reading of the Jan HSBC Manufacturing PMI came at 49.5 vs 49.6 initial reading. This signalled the first deterioration of operating conditions in China’s manufacturing sector since July.
According to Hongbin Qu, Chief Economist, China & Co-Head of Asia Economic Research at HSBC: "A soft start to China's manufacturing sectors in 2014, partly due to weaker new export orders and slower domestic business activities during January. Policy makers should pay attention to downside risks and pre-emptively fine-tune policy to steady the pace of growth if needed."
Key points
Growth of output eases to marginal pace
Quickest rate of job shedding since March 2009
Marked falls in input costs and output charges
According to Hongbin Qu, Chief Economist, China & Co-Head of Asia Economic Research at HSBC: "A soft start to China's manufacturing sectors in 2014, partly due to weaker new export orders and slower domestic business activities during January. Policy makers should pay attention to downside risks and pre-emptively fine-tune policy to steady the pace of growth if needed."
Key points
Growth of output eases to marginal pace
Quickest rate of job shedding since March 2009
Marked falls in input costs and output charges