HSBC China PMI Falls To Lowest Since March 2009

An index of China’s manufacturing activity fell to 47.6 in August on a 100-point scale, down from July’s 49.3 and marking the lowest reading since March 2009, the data’s compiler HSBC said Monday.

The final result for the HSBC China manufacturing Purchasing Managers’ Index marked a downward revision from an initial 47.8 reading and was down sharply from 49.3 in July. Any result below 50 marks a contraction in overall activity.

An official version of China’s PMI, released Saturday, fell to nine-month low of 49.2 compared to 50.1 in July. The official PMI, published jointly by the China Federation of Logistics & Purchasing and the National Bureau of Statistics, came in below expectations for a neutral print of 50.0, according to separate polls by Dow Jones Newswires and Reuters.

China stocks saw their gains pared in the wake of the HSBC PMI but managed to hold onto positive territory, with the Shanghai Composite Index trading up 0.2%, while Hong Kong’s Hang Seng Index slipped into negative territory, trading down 0.1%, after trading flat ahead of the survey’s release

Marketwatch