Digital News Report – Stock markets in Asia and Europe are lower after the HSBC Purchasing Managers’ Index (PMI) disappointed traders. The report, which is compiled by Markit research, revealed that factory output and purchases were both lower.
The Flash China Manufacturing PMI was at 48.0 in November, making it the worst month since March 2009. Any number below 50 means manufacturing is contracting, and in October that number was 51.0.
The Markit Flash output rating fell even more. In October the Flash China Manufacturing Output index was 51.4. This month it is only 46.7.
The Flash Markit numbers are numbers are preliminary, and come out one week before the final PMI data are released. The company says this information is the earliest available indicator of manufacturing sector operating conditions in China.
By; Tim Edwards