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 Chinese exporters buffeted while India stays calm- Chinese exporters buffeted while India stays calm
- September 03, 2012
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Sluggish economic growth in many parts of the world continues to make life difficult for Chinese manufacturers, according to HSBC's latest Purchasing Managers' Index (PMITM) which suggests operating conditions in the industry are at their toughest in over three years.
August's PMI reading of 47.6 is the lowest since March 2009, and signalled a sharp deterioration since the previous month's 49.3. The figure has dampened hopes that China's industry may soon return to a figure above the 50 mark - indicating expansion rather than contraction.
The index is compiled using the views of senior purchasing executives in over 420 companies across the country and is seen as a significant indicator to the health of China's manufacturing industry.
HSBC's Chief Econom...
- View more at: http://www.1888pressrelease.com/chinese-exporters-buffeted-while-india-stays-calm-pr-420913.html
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