China's manufacturing declines, but at slower pace

BEIJING (AP) ? A business survey shows China's manufacturing declined again in September, though the slowdown might be bottoming out.

HSBC Corp.'s latest purchasing managers' index, based on a survey of more than 400 companies, was 47.9 for September, slightly up from 47.6 in August. The index measures manufacturing activities on a 100-point scale on which numbers below 50 show a contraction.

The HSBC report shows China's manufacturing contracted for the 11th straight month in September, as new export orders fell at the sharpest rate in 42 months amid weak international demand.

HSBC's China economist Hongbin Qu said in an accompanying statement that "the sharper contraction of new export orders and the lingering pressures on job markets mean that Beijing should step up easing to support growth and employment."

Source: http://news.yahoo.com/chinas-manufacturing-declines-slower-pace-032313484--finance.html

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