China Manufacturing Activity Reaches New Low
HONG KONG (AP) — A survey shows that manufacturing activity in China has fallen to a six-month low in November, reflecting sluggishness in the world No. 2 economy and weakness abroad.
HSBC Index Shows Decline in November
HSBC’s preliminary purchasing managers’ index released Thursday fell to 50.0 this month from 50.4 in October.
The index uses a 100-point scale on which numbers below 50 indicate contraction while numbers above show expansion.
The latest reading indicates there’s no change in overall conditions from the previous month.
Economic Slowdown and Key Contributing Factors
China’s economic growth slowed to a five-year low of 7.3 percent in the third quarter of the year.
Concerns Over Property and Export Uncertainty
The report said that there are “still uncertainties in the months ahead from the property market and on the export front.”
