China manufacturing falls further

23 August 2012 Last updated at 00:54 ET


The HSBC PMI has indicated a contraction in activity, a reading of below 50, for 10 straight months

China's manufacturing activity fell to a nine-month low in August, a preliminary HSBC survey has shown.
The Purchasing Managers Index posted a reading of 47.8, compared with a final reading of 49.3 in July, HSBC said.
Anything below 50 indicates that manufacturing activity is contracting.
Some analysts said that the data indicates that government efforts to spur the world's second-largest economy have not boosted firms' confidence.
"To achieve the stated policy goal of stabilising growth and the jobs market, Beijing

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