China Manufacturing Slows for Third Month, Most Since 2009
Tweet
Share
E-mailGet Alerts FXI Hot Sheet
Join SI Premium – FREE
Manufacturing in China contracted for the third straight month in September, marking the longest slump since the financial fallout of 2009.
Data Friday shows China's purchasing managers' index unchanged at 49.9 from August to September. The number, released by HBHC and Markit Economics, was up slightly from the preliminary reading of 49.4 issued last week.
The 50 level generally shows activity; below 50 means contracting, with the opposite for anything above.
Moves by the Chinese government to curb inflation through tighter controls on lending and real-estate appear to be working. European debt issues and a glum economic outlook by the U.S. Fed are also contributors to China's contacting economy.
The iShares FTSE China 25 Index Fund (NYSE: FXI) is down about 3.4 percent early Friday.
Data Friday shows China's purchasing managers' index unchanged at 49.9 from August to September. The number, released by HBHC and Markit Economics, was up slightly from the preliminary reading of 49.4 issued last week.
The 50 level generally shows activity; below 50 means contracting, with the opposite for anything above.
Moves by the Chinese government to curb inflation through tighter controls on lending and real-estate appear to be working. European debt issues and a glum economic outlook by the U.S. Fed are also contributors to China's contacting economy.
The iShares FTSE China 25 Index Fund (NYSE: FXI) is down about 3.4 percent early Friday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Next week looks quiet for greater China - Analyst
- NAHB Housing Market Index (Apr) 51 vs 51 Expected
- MBA Mortgage Applications 3.3% vs 0.1% Prior
Create E-mail Alert Related Categories
Economic Data, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
