facebook
twitter
search
search

China's manufacturing contracted in Sept.

Oct. 1, 2012 at 12:38 AM

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.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules