China's PMI Flat With Estimates in December on Slowing Export Orders
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China's factory activity fell, but came in-line with expectations at 50.5 for December.
According to the HSBC/Markit manufacturing Purchasing Managers' Index (PMI), the reading was a three-month low for China and down from 50.8 reported in November.
Data showed a drop in new export orders to a four-month low of 49.1.
Numbers above 50 indicate expansion.
China has been working toward making a more sustainable economy following recent years of rapid growth based on exports and credit. Officials are modeling overall growth of 7.5 percent for 2013, down from double-digit figures recorded over the last few years.
On watch today is iShares FTSE/Xinhua China 25 Index (NYSE: FXI) ETF.
According to the HSBC/Markit manufacturing Purchasing Managers' Index (PMI), the reading was a three-month low for China and down from 50.8 reported in November.
Data showed a drop in new export orders to a four-month low of 49.1.
Numbers above 50 indicate expansion.
China has been working toward making a more sustainable economy following recent years of rapid growth based on exports and credit. Officials are modeling overall growth of 7.5 percent for 2013, down from double-digit figures recorded over the last few years.
On watch today is iShares FTSE/Xinhua China 25 Index (NYSE: FXI) ETF.
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