23 January 2014 03:42 [Source: ICIS news]
SINGAPORE (ICIS)--HSBC announced on Thursday that its preliminary manufacturing purchasing managers’ index (PMI) for China is at 49.6 for January, a six-month low and the first time the index has fallen below 50.0 since August 2013.
A PMI reading above 50.0 indicates an expansion, while a reading below 50.0 represents a contraction in manufacturing activities.
Slowing demand is a major reason pulling down the January PMI, according to HSBC.
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