China manufacturing contracts again
Quotes

China manufacturing contracts again

Last Updated: Monday, October 1, 2012, 09:24
 
 Comment 0
 
China manufacturing contracts again
Beijing: China's manufacturing activity contracted again in September, but the rate of deterioration eased slightly, official data showed Monday.

The purchasing managers' index (PMI) rebounded to 49.8 percent in September from 49.2 percent in August, but was still below the 50-percent level signifying expansion, Xinhua reported quoting China Federation of Logistics and Purchasing (CFLP).

The Septemper index ended the manufacturing PMI's continuous decline for four straight months.

"The rebound in September confirms a trend that China's economy is bottoming out," said Zhang Liqun, an analyst with the government think tank Development Research Centre of the State Council.

Judging by the reading of sub-indices, Zhang said there will be a turnaround for the downward movement in the world's second-largest economy, and growth may pick up in the coming months.

IANS




First Published: Monday, October 1, 2012, 09:24


Comments


comments powered by Disqus
Forbes 2015 Rich List
Forbes 2015 Rich List
Audi TT Coupé
Audi TT Coupé
Shanghai Auto Show 2015
Shanghai Auto Show 2015
PM Narendra Modi in France
PM Narendra Modi in France
PM Modi`s Make in India push in Germany
PM Modi`s Make in India push in Germany

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved