China's manufacturing sector is still expanding, but barely# Stock
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关于天朝第二季度PMI的解读，这篇cnn的文章比较好
NEW YORK (CNNMoney) -- China's manufacturing sector is still expanding, but
barely.
The National Bureau of Statistics in Beijing said Sunday morning that the
China Manufacturing Purchasing Managers Index for June fell to 50.2 from 50.
4 in May. Any reading below 50 signals contraction in the manufacturing
sector.
The good news is that economists had been expecting the numbers to be worse.
According to a report from emerging markets analysts for Barclays in Hong
Kong, the consensus was for the PMI figure to hit 49.9.
Nonetheless, the latest figures are still a bit worrisome. The report from
the Chinese government follows a preliminary measure of purchasing managers'
sentiment for June from banking giant HSBC on June 22. That report shows
that manufacturing reached a 7-month low.
The HSBC flash reading of its Chinese manufacturing purchasing managers'
index dropped to 48.1 in June from 48.4 in May. The final figure for June
from HSBC will come out on Monday.
China's central bank cut interest rates in early June for the first time
since 2008. Many economists are predicting that the People's Bank of China
may need to continue lowering rates.
While China's economy is still expanding at a rate that is the envy of the
developed world -- gross domestic product rose at an annualized 8.1% in the
first quarter -- there are concerns that the debt crisis in Europe is
hurting China. The eurozone is China's largest export market.
Along those lines, the Chinese government noted in Sunday's PMI report that
there was a sharp drop in new export orders in June.
Stop exaggerating China's slowdown
Still, the Barclays analysts said that domestic demand appeared to improve -
- a possible sign that China's rate cut and other steps taken to try and
stabilize the economy are working. The analysts wrote that the June PMI
figures "should provide some relief to investors fearful of a 'freefall' in
the Chinese economy."
Inflation is no longer a significant problem for China either, which likely
gives the government more room to lower interest rates. The Chinese
government reported in early June that consumer prices rose at just a 3%
annualized rate in May.
That's the fourth straight month of consumer price increases below 4% and
far below the 6.5% rate of inflation from the summer of 2011. To top of
page
First Published: July 1, 2012: 8:17 AM ET
NEW YORK (CNNMoney) -- China's manufacturing sector is still expanding, but
barely.
The National Bureau of Statistics in Beijing said Sunday morning that the
China Manufacturing Purchasing Managers Index for June fell to 50.2 from 50.
4 in May. Any reading below 50 signals contraction in the manufacturing
sector.
The good news is that economists had been expecting the numbers to be worse.
According to a report from emerging markets analysts for Barclays in Hong
Kong, the consensus was for the PMI figure to hit 49.9.
Nonetheless, the latest figures are still a bit worrisome. The report from
the Chinese government follows a preliminary measure of purchasing managers'
sentiment for June from banking giant HSBC on June 22. That report shows
that manufacturing reached a 7-month low.
The HSBC flash reading of its Chinese manufacturing purchasing managers'
index dropped to 48.1 in June from 48.4 in May. The final figure for June
from HSBC will come out on Monday.
China's central bank cut interest rates in early June for the first time
since 2008. Many economists are predicting that the People's Bank of China
may need to continue lowering rates.
While China's economy is still expanding at a rate that is the envy of the
developed world -- gross domestic product rose at an annualized 8.1% in the
first quarter -- there are concerns that the debt crisis in Europe is
hurting China. The eurozone is China's largest export market.
Along those lines, the Chinese government noted in Sunday's PMI report that
there was a sharp drop in new export orders in June.
Stop exaggerating China's slowdown
Still, the Barclays analysts said that domestic demand appeared to improve -
- a possible sign that China's rate cut and other steps taken to try and
stabilize the economy are working. The analysts wrote that the June PMI
figures "should provide some relief to investors fearful of a 'freefall' in
the Chinese economy."
Inflation is no longer a significant problem for China either, which likely
gives the government more room to lower interest rates. The Chinese
government reported in early June that consumer prices rose at just a 3%
annualized rate in May.
That's the fourth straight month of consumer price increases below 4% and
far below the 6.5% rate of inflation from the summer of 2011. To top of
page
First Published: July 1, 2012: 8:17 AM ET