China's Flash PMI Weakens FurtherAugust 23, 2012 @ 7:53 AM EST
China Economic Update: HSBC’s “Flash” Purchasing Managers’ Index
HSBC’s Flash Purchasing Managers Index or PMI for China, which is the month’s earliest indicator of China’s manufacturing activity, pulled back in August. In addition, it is worth nothing that the reading remained in contraction mode for a tenth consecutive month.
The Flash index was reported at 47.8 for August, which is down from July’s final reading of 49.3. (June: 48.1, May: 48.4, April: 49.1, March: 48.3, February: 49.7, January: 48.8, December: 49.0, November: 47.7, October: 51.1, September: 49.1, August: 49.0, July: 49.3, June: 50.1).
Recall that readings above 50 indicate the sector is expanding while readings below 50 are indicative of contraction.
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