China’s Manufacturing Slump Deepens

on September 04, 2012 at 10:20 AM


More bad news about China’s factories: The decline in the country’s crucial manufacturing sector got worse last month. A closely-followed report by bank HSBC, released Monday, said export orders for China’s factories slid at the sharpest rate since March 2009. And on Saturday, the Chinese government’s official manufacturing index fell to 49.2 from 50.1 in July. Any reading below 50 indicates that factory activity is shrinking rather than growing. The reports could add further pressure on Chinese government authorities to take steps to reverse the slowdown, which was driven by a slowdown in factory orders, analysts