Slowdown for Chinese manufacturing
CHINESE manufacturing is expected to have fallen to an eight-month low, ahead of detailed figures being released next week.
HSBC released the result of its preliminary or flash Purchasing Managers Index, which showed particularly lacklustre results for June at 42.
The index gives an insight into how Chinese manufacturers are operating.
Anything below 50 is considered a slowdown.
According to HSBC: "Manufacturing sectors are weighed down by deteriorating external demand, moderating domestic demand and rising destocking pressures."
As China continues to rely on reforms rather than stimulating the economy for growth, this is likely to pay off in the long run but do little immediately.