HSBC China Flash PMI Hits 4-Month Low (48.1), AUD/USD Falls to 1.0370

Articles on the Chinese economy and HSBC Flash PMI (and some news on Japan):

HSBC Flash China Manufacturing PMI: "New order book weakness contributes to renewed decline in manufacturing output." 48.1 vs. 49.6 in February (full press release at MarketEconomics.com)

"Commenting on the Flash China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:

“Weakening domestic demand continued to weigh on growth, as indicated by a slowdown in new orders which came in at a four-month low. External demand remained in contraction territory, but the decline was at a slower pace, implying that there are no improvements in the demand outlook. More worryingly, employment recorded a new low since March 2009, suggesting slowing manufacturing production was hindering enterprises' hiring desire. The soft-patch in manufacturing was in line with the recent downside surprise in industrial production growth. Growth momentum could slow down further amid a combination of sluggish export new orders and softening domestic demand. This calls for further easing steps from the Beijing authority.”"

Iron Ore-Shanghai rebar slips after weak China PMI (Reuters)
China Stocks Fall to One-Week Low on Manufacturing Report (BusinessWeek)
Goldman: "odds of an interest-rate reduction have “significantly increased recently.”" (Bloomberg)
Australian dollar plunges as China manufacturing data surprises traders (Australian)
Moody's changes West China Cement's outlook to negative (Moody's)
China: PMI/Japan point to slowdown (FT beyondbrics)
Japan's Land Price Decline Slows (Nikkei)
Japan’s Unexpected Trade Surplus Adds to Rebound Signs (Bloomberg)
Nikkei rises, shrugs off China data; Nomura falls (Bloomberg)

AUD/USD is not looking good at the moment, -0.20% at 1.0370. Needs some Chinese stimulus...

source: freestockcharts.com

Related Posts