The flash reading for the HSBC China manufacturing PMI for December:
- expected was 49.8
- prior was 52.0
- Lowest in 7 months
Comments from Hongbin Qu, Chief Economist, China & CoHead of Asian Economic Research at HSBC:
- “The HSBC China Manufacturing PMI dropped to a seven-month low of 49.5 in the flash reading for December, down from 50.0 in November.
- Domestic demand slowed considerably and fell below 50 for the first time since April 2014.
- Price indices also fell sharply.
- The manufacturing slowdown continues in December and points to a weak ending for 2014.
- The rising disinflationary pressures, which fundamentally reflect weak demand, warrant further monetary easing in the coming months.”
–
The Flash PMI is typically based on around 85 to 90% of the responses to surveys sent to purchasing managers at more than 420 firms. Well get the final reading next week.
