China flash manufacturing Purchasing Managers' Index falls to 48.1 from 48.5, according to HSBC
preliminary gauge of China's factory activity fell to an eight-month low.
The "flash" edition of HSBC's China manufacturing Purchasing Managers' Index (PMI) dropped to 48.1 from February's 48.5, remaining below the 50 level separating expansion from contraction. Subindexes for output and new orders both fell at a faster rate than in the previous month, while the employment subindex slowed its decline, and that for new export orders swung to a gain.
The flash version of the monthly report -- compiled by HSBC and Markit, in competition with a separate Chinese government PMI -- is usually based on 85%-90% of the total responses used in the final version.