The Chinese manufacturing growth rate fell in June, going through a slowdown in the Chinese economy, according to reports. The Purchasing Managers’ Index declined to 50.1 from previous record of 50.8, marking its lowest in four months, according to the National Bureau of Statistics.
The PMI from the HSBC Holdings Plc and Markit Economics dropped to 48.2, weakest since September. Indicating a weak demand, the sub-index for new orders declined as well.
Meanwhile in the euro region and India, the Markit factory advanced for June .Germany and South Korea remained at a negative territory, with its lowest since November.
The domestic debt sales fell by 48% in June to 190.6 billion yuan ($31 billion), while the Shanghai Composite index advanced 0.8%.
The Chinese exporters, manufacturers and investors have raised concerns regarding the slowdown in the key markets from the US and euro zone.
The Goldman Sachs Group Inc. and HSBC holdings pared their growth projections this year blow the government’s goal of 7.5 to 7.4 last month.
The Chinese economy expanded in the first quarter by 7.7%, down from the previous quarter record of 7.9%.
According to the official PMI report released , the reports indicates a fall in new orders ,input prices ,employment and other sub-categories.
Article provided by HY Markets Forex Blog