China’s PMI deteriorates in January for sixth month

二月 2, 2009 at 18:41 | 張貼於Economy, Uncategorized | 發表留言

HONG KONG (MarketWatch) — Conditions in China’s manufacturing sector declined in January, marking the sixth straight month of falls, while the pace of layoffs jumped to the highest recorded in a four-year-old survey published by CLSA Asia-Pacific Markets. The headline PMI index stood at 42.2, rising slightly from 41.2 in December, but well below the 50-level that indicates the manufacturing sector is neither growing nor shirking. The reading was the third-sharpest deterioration on record, following declines in December and November. The monthly survey was launched in April 2004. The survey also showed that job shedding accelerated in each of the last six months. “Despite easing for the second month running, the rate of [PMI index] contraction remains considerable, reflecting rapidly deteriorating market conditions and fears of a deepening economic downturn," CLSA noted in the report.

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