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China's final HSBC PMI hits 3-month low in August
September 1, 2014 / 1:50 AM / in 3 years

China's final HSBC PMI hits 3-month low in August

BEIJING (Reuters) - China’s vast factory sector grew at its slackest pace in three months in August as growth in output and new orders cooled, a private survey showed, adding to worries that the economy is losing momentum despite government steps to steady it.

A laborer works atop the Shanghai Tower, at the financial district of Pudong, in Shanghai, August 3, 2014. REUTERS/Stringer

The final HSBC/Markit Manufacturing Purchasing Managers’ Index (PMI) slipped to 50.2 in August - just a whisker below a preliminary reading of 50.3 - from July’s 18-month high of 51.7.

It was the lowest reading since May, though the PMI stayed for a third consecutive month above the 50-point level that separates growth in activity from contraction.

A sub-index measuring new orders, a gauge of demand at home and abroad, fell to a three-month low of 51.3 while the sub-index for output eased from July’s 16-month high.

Reporting by Xiaoyi Shao and Koh Gui Qing; Editing by Richard Borsuk

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