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23 Jan 2015
China’s factory growth stalls in January – MP
FXStreet (Barcelona) - Stuart McPhee, Currency Technical Analyst at MarketPulse, shares that China’s manufacturing growth stalled for the second straight month in January, with HSBC Flash Manufacturing PMI coming out at 49.8, showing little change than the December’s 49.6 figure.
Key Quotes
“China’s manufacturing growth stalled for the second straight month in January and companies had to cut prices at a faster clip to win new business, adding to worries about growing deflationary pressures in the economy, a private survey showed.”
“The HSBC/Markit Flash Manufacturing Purchasing Managers’ Index (PMI) hovered at 49.8 in January, little changed from December’s 49.6 and just below the 50-point mark that separates contraction from growth on a monthly basis.”
“A Reuters poll had forecast a second month of contraction with a reading of 49.6. Reflecting the tumble in oil prices, which have more than halved in the last six months, a sub-index for input prices sank to 39.9, a level not seen since the global financial crisis.”
Key Quotes
“China’s manufacturing growth stalled for the second straight month in January and companies had to cut prices at a faster clip to win new business, adding to worries about growing deflationary pressures in the economy, a private survey showed.”
“The HSBC/Markit Flash Manufacturing Purchasing Managers’ Index (PMI) hovered at 49.8 in January, little changed from December’s 49.6 and just below the 50-point mark that separates contraction from growth on a monthly basis.”
“A Reuters poll had forecast a second month of contraction with a reading of 49.6. Reflecting the tumble in oil prices, which have more than halved in the last six months, a sub-index for input prices sank to 39.9, a level not seen since the global financial crisis.”