China, Europe Continue to Slow

摘要

Latest indicators point to a continuation in July of the slowdown in economic growth seen in China and Europe last month (IOD Jul.4'11). An early release Thursday of the HSBC China Manufacturing Purchasing Manager Index (PMI) showed the PMI at a 28-month low of 48.9 in July (related). PMI data aim to provide an indication of the economic health of the private sector tracking variables such as sales, employment, inventories and prices. A value of 50 indicates no change in conditions, while anything higher is an improvement and lower a deterioration.