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(ICIS) -- China’s manufacturing sector is
expected to slow down through the rest of 2011 because of softer demand from
overseas markets and export orders, industry sources said on Tuesday.
The
country’s purchasing managers’ index (PMI) fell by 0.8 percentage points to
50.4% in October from September, according to data released by the China
Federation of Logistics & Purchasing (CFLP) on Tuesday.
From September to October, the new orders index fell by 0.8 percentage
points to 50.5%, while the production index dropped by 0.4 percentage points to
52.3%, according to the data. The declining PMI indicates that economic growth
will continue to slow in the near future, said Zhang Liqun, an analyst from
CFLP.
The country’s third-quarter export and investment growth has slowed and
companies are having problems with funding, Zhang added. The new export orders
index dropped by 2.3 percentage points from September to 48.6% in October, the
data showed. The decline reflects weaker demand from the international market
due to the eurozone debt crisis, an analyst from China Customs said.
mrcplast.com
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