China's manufacturing contracted in Sept.

Oct. 1, 2012 at 12:38 AM   |   Comments

BEIJING, Oct. 1 (UPI) -- Manufacturing activity in China contracted for the second straight month in September, reflecting the country's slowing economy, official data showed Monday.

However, the rate of contraction, as measured by the purchasing managers' index, eased in September to 49.8 percent from 49.2 percent in August, the official Xinhua News Agency reported.

Any number below 50 percent on the index, released by the China Federation of Logistics and Purchasing, denotes contraction, and while over 50 percent signifies expansion.

Economic growth in China, the world's second-largest economy after the United States, has been hit by the global slowdown. New orders for Chinese exports have declined because of weak international demand.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Trending News
x
Feedback