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The first piece of economic data for December is out -- showing an easing in manufacturing growth. But bear in mind the survey period is shorter because of the coming year end holidays. Let’s find out more.
China’s manufacturing engine looks like it could be slowing down.
Growth slowed to a three-month low in December, according to the HSBC Flash PMI. Throughout the year, the manufacturing sector1 first slowed, then quickened thanks to a recovery in exports.
"The U.S. consumer, whatever he buys now is not just made in China. It could well now be made in Arkansas or Mexico. So there are structural2 trends of Asia losing some competitiveness taking place here as well which suggests that maybe the upside in some of these numbers and trade numbers is not as big as what you’d expect previously," said Herald3 Van Der Linde, head of equity4 strategy, HSBC Asia Pacific.
The survey does show a pickup5 in both export and new orders, suggesting China’s benefiting from signs that Europe is rebounding6. But because of the year-end holidays, this latest Flash PMI only covers a short week-long period. Final readings won’t come until January 2nd.
1 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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2 structural | |
adj.构造的,组织的,建筑(用)的 | |
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3 herald | |
vt.预示...的来临,预告,宣布,欢迎 | |
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4 equity | |
n.公正,公平,(无固定利息的)股票 | |
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5 pickup | |
n.拾起,获得 | |
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6 rebounding | |
蹦跳运动 | |
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