by Wadsam | August 25, 2012 7:06 am
China’s manufacturing activity fell to a nine-month low in August, with the Purchasing Managers’ Index (PMI) read 47.8 compared to July’s reading of 49.3.
A PMI reading below 50 indicates that manufacturing activity is contracting.
China has taken several measures to spur the economy including cutting the cost of borrowing and decreasing the amount of money banks must keep in reserve, in a bid to boost lending.
However, there has been no massive government stimulus package like the one launched after the global financial crisis in 2008, mainly because that move led to a sharp rise in consumer prices.
Source URL: http://wadsam.com/international-business-news/chinas-purchasing-managers-index-pmi-lowering-further-569/
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