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Thu Mar 22, 2012, 09:04 AM

China Manufacturing Contraction May Worsen, Data Show

(Bloomberg) A Chinese manufacturing index indicated a worse contraction this month, bolstering the case for Premier Wen Jiabao to add measures to sustain growth even as he prolongs a campaign to cool property prices.

The preliminary 48.1 reading in a purchasing managers’ index from HSBC Holdings Plc and Markit Economics today is the lowest since November and compares with a final 49.6 in February. A result below 50 indicates a contraction.

Asian stocks pared gains and oil and copper fell as the report added to concerns about a deeper slowdown in the world’s second-biggest economy. Wen this month pledged pre-emptive fine- tuning of fiscal and monetary policies to support growth after increases in gross domestic product slowed in 2011.

“Growth momentum could slow down further amid a combination of sluggish export new orders and softening domestic demand, and this calls for further easing steps,” saidQu Hongbin, Hong Kong-based chief economist for China at HSBC. ................(more)

The complete piece is at: http://www.bloomberg.com/news/2012-03-22/china-manufacturing-may-contract-for-fifth-month-survey-shows.html

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Reply China Manufacturing Contraction May Worsen, Data Show (Original post)
marmar Mar 2012 OP
xchrom Mar 2012 #1

Response to marmar (Original post)

Thu Mar 22, 2012, 09:18 AM

1. du rec. nt

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