Quantcast


Last updated: March 02. 2014 9:37PM - 499 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) A survey shows Chinese manufacturing weakened in February and employers cut staff at their fastest rate in nearly five years.


HSBC Corp. said Monday its monthly purchasing managers index stood at 48.5 on a 100-point scale on which numbers below 50 show activity contracting. That was down from January's 49.5.


The data add to signs China's economy might be weakening as communist leaders try to reduce reliance on trade and investment and encourage self-sustaining growth based on domestic consumption.


"This calls for policy fine-tuning measures to stabilize market expectations and steady the pace of growth," said HSBC economist Hongbin Qu in a statement.


Fewer new orders led manufacturers to cut staff for a fourth month in the fastest reduction since March 2009.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com