Man­u­fac­tur­ing slows in March to 8-month low

China Daily (Canada) - - NEWSCAPSULE -

The HSBC China flash man­u­fac­tur­ing PMI fell to an eight­month low in March, deep­en­ing con­cern that the Chi­nese econ­omy might not meet its 7.5 per­cent growth tar­get in 2014.

The pre­lim­i­nary Pur­chas­ing Man­agers’ In­dex from HSBC Hold­ings Plc dropped to 48.1 from 48.5 in Fe­bru­ary.

Con­trary to ex­pec­ta­tions of a mild re­bound as ac­tiv­ity nor­mal­ized af­ter sea­sonal dis­tor­tions, China’s growth mo­men­tum con­tin­ued to slow fol­low­ing the Lu­nar New Year.

First-quar­ter GDP growth is likely to fall be­low the an­nual growth tar­get of 7.5 per­cent, ac­cord­ing to an HSBC re­port.

The re­port found that do­mes­tic de­mand has weak­ened at a pace sim­i­lar to that seen in the mid­dle of last year, which is likely due to slow­ing in­vest­ment growth, a softer property mar­ket and con­tin­ued ef­forts to elim­i­nate ex­cess in­dus­trial ca­pac­ity. (Photo 4)


A male con­tes­tant wear­ing an an­cient tra­di­tional Chi­nese woman’s cos­tume takes part in the first an­nual pole dancing con­test in South­west China’s Chongqing city on March 19. The con­test at­tracted con­tes­tants be­tween the ages of 15 and 50.

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