【can you put rso in tea】Another number paints a bleak picture of manufacturing in China
Thecan you put rso in tea Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) came in at 48.3 in January, compared to 49.7 in December. Analysts polled by Reuters had expected the Caixin PMI to be 49.5 last month.
It was the second-consecutive month of contraction and the lowest reading since 2016.
A private survey on China manufacturing sector showed on Friday that factory activity contracted more-than-expected in January — confirming views that the world's second-largest economy started the new year on soft footing.
The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) came in at 48.3 in January — the second-consecutive month of contraction and the lowest reading since 2016. January's reading was also weaker than the 49.5 that analysts polled by Reuters expected, and the 49.7 reported in December.
A reading above 50 indicates expansion, while a reading below that level signals contraction.
The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what's happening in an economy, as they are usually among the first major economic indicators released each month. Investors have been closely watching economic indicators from the world's second-largest economy for signs of trouble amid domestic headwinds and the ongoing United States -China trade dispute .
"Latest survey data signalled subdued overall operating conditions in the Chinese manufacturing sector at the start of 2019," the statement by Caixin and IHS Markit said. "Softer demand conditions led companies to revise their production schedules ... Underlying data indicated that weakness largely stemmed from muted domestic demand."
The Caixin PMI data followed the release of China's official manufacturing PMI on Thursday by the National Bureau of Statistics. The official data came in at 49.5 — higher than 49.3 expected by analysts in a Reuters poll and the 49.4 reported in the previous month.
The two PMI surveys on the Chinese manufacturing sector showed different readings because of the types of companies being polled. Large businesses and state-owned enterprises make up a large proportion of responses in the official PMI, while the Caixin indicator has a bigger mix of small- and medium-sized firms.
Chinese authorities have introduced measures to support the economy in the past year, with a particular focus on helping to boost smaller firms. But Friday's release of the Caixin measure indicated that the policies introduced so far to support the Chinese economy have not worked, said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.
Story continues
"On the whole, countercyclical economic policy hasn't had a significant effect," Zhong said in a statement. "China is likely to launch more fiscal and monetary measures and speed up their implementation. Yet the stance of stabilizing leverage and strict regulation hasn't changed, which means the weakening trend of China's economy will continue."
Jian Chang, Barclays' chief China economist, agreed that Beijing needs to do more. She told CNBC's "Street Signs" that Barclays is expecting China's central bank to cut benchmark interest rates by 25 basis points twice this year — in the first and second quarters, respectively — to further boost the economy.
But such supportive measures may take time to be effective, economists said. Economic growth in China could stay weak in the first half of 2019 given both external and domestic challenges, Citi economists wrote in a Thursday note. Last year, growth in China slowed to 6.6 percent — the lowest expansion rate in 28 years.
China's manufacturing sector is not the only one feeling the pinch. Other export-oriented economies such as Japan , South Korea and Taiwan also reported weaker PMI numbers and lackluster factory outlook for 2019.
More From CNBC
Worries about Chinese consumers spending less are 'overblown,' analysts say
China's central bank told banks to moderate January lending pace, sources say
Presume a deal is reached if Trump and Xi meet: Ex-U.S. trade representative
View comments
下一篇:Look at American Airlines Stock Through a Wider Lens
相关文章:
- Crude Oil Price Update – Close Over $35.79 Forms Potentially Bullish Closing Price Reversal Bottom
- Did Hedge Funds Drop The Ball On Centene Corp (CNC) ?
- Upcoming Deadline Reminder: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Citrix Systems, Inc. and Encourages Investors with Losses in Excess of $250,000 to Contact the Firm
- BRIEF-Luye Pharma Announces Clinical Trial Application Of Biological Antibody LY09004 Accepted By NMPA In China
- Bullish Near-Term Prospects for Insurance Brokerage Industry
- Is Canadian National Railway Company (TSE:CNR) A Smart Choice For Dividend Investors?
- Do You Know What Trio Industrial Electronics Group Limited’s (HKG:1710) P/E Ratio Means?
- Evaluating New Times Energy Corporation Limited’s (HKG:166) Investments In Its Business
- Comcast Stock Rises 3%
- PRESS DIGEST- Financial Times - Feb 1
相关推荐:
- Trust Stamp Prepares to Pursue Direct Public Listing on Euronext Growth Market
- BRIEF-Beijing Thunisoft Gets Regulatory Approval For Share Private Placement
- UK minister defends giving Brexit ferry contract to company with no ships
- Apple cuts sales forecast as China sales weaken; iPhone pricing in focus
- To the millions of parents who didn’t choose to homeschool: This is a unique opportunity
- 5 Best Diets for 2019: Mediterranean Diet Tops the List
- European shares start 2019 shakily as China, EU figures deepen gloom
- Securities Class Action Has Been Filed Against YRC Worldwide Inc. (YRCW); Block & Leviton LLP Encourages Shareholders to Contact the Firm
- Vineyard Wind picks GE turbines for Massachusetts offshore wind farm
- Acclaris to Host Webinar on How to Engage and Support a Millennial Workforce
- Unibail-Rodamco-Westfield (“URW”) announces tender offer results
- H2O Innovation Secures 7 New Projects, Totalling $7.6 M and Received Notice of Cancellation for One Project
- The Zacks Analyst Blog Highlights: Chegg, Tencent, GoDaddy, Fortinet and ServiceNow
- CORRECTED-Fed's Evans says U.S. should support workers who lose pay if coronavirus worsens
- Wall Street dives 4% as virus pandemic fears intensify
- Can You Imagine How Eagle Nice (International) Holdings's (HKG:2368) Shareholders Feel About The 96% Share Price Increase?
- Canada energy firms fret as Ottawa labors over promised aid package
- Is It Smart To Buy Guaranty Federal Bancshares, Inc. (NASDAQ:GFED) Before It Goes Ex-Dividend?
- Robin.io Expands Leadership Team and Advisory Board for 5G Market
- Do You Like HORNBACH Baumarkt AG (ETR:HBM) At This P/E Ratio?