Skip to comments.China's Export Orders Fall At Fastest Rate In 42 Months
Posted on 09/28/2012 9:05:11 PM PDT by blam
China's Export Orders Fall At Fastest Rate In 42 Months
Sep. 28, 2012, 10:30 PM
The final September reading of China's HSBC Manufacturing PMI climbed to 47.9 from 47.6 last month.
This compares to the September HSBC Flash PMI, which came in at 47.8. Many expect the final number to be in line with the Flash number.
Any reading below 50 signals contraction in the industry.
Here are the key points from Markit:
* New export orders fall at fastest rate in 42 months
* Output and input prices continue to fall
* Purchasing activity declines amid weak demand and lower production requirements
From HSBC economist Hongbin Qu:
Chinese manufacturing growth is likely to be bottoming out. However, 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. Fiscal measures should play a more important role in the coming months.
Last month, the metric fell to 47.6, the lowest level since March 2009.
China is the second largest economy in the world.
(The US is still #1 and is 3-4 times larger than China.)
(Excerpt) Read more at businessinsider.com ...
As I mentioned a few days ago, I have it on very good authority that China is selling debt to its own citizens in the form of bonds that pay an interest rate a couple of percent above that paid by bank savings accounts.
Their imports of raw materials have almost stop.
So those critical of those who were seeing this coming of China’s demise were wrong ?
The China rotten Onion is being pealed back layer by layer.
the dominoes are lined up
That means nothing all the idle masses can now, in their leisure time, take turns launching themselves off Varyag . It is for fun.
We learned a lot from the Germans from WWII. To hell with the ChiComs...