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China Flash PMI Falls Further To 48.1, Hitting A 7-Month Low
Investors are watching the June HSBC Flash PMI numbers closely for signs of improvement in the Chinese economy.
Last month, the flash reading came in at 48.7, well below a reading of 50 which indicates a contraction.
China’s official PMI also fell in May, but at 50.4 stayed marginally above the contractionary level.
The flash number focuses more heavily on small-and-medium enterprises (SMEs) than the official index. It is released a week before the official reading.
China’s flash PMI came in at 48.1 in June, while May’s reading was revised down to 48.4
The flash China manufacturing output index came in at 49.1, down from a revised 49.7 in May. Chinese manufacturers reported sharpest decline in new export orders since March 2009.
These four charts via Markit Economics show details from the report: