The final reading of HSBC’s purchasing managers’ index for China stood at 50.5 in December, representing a three-month low, Chinese news website Wallstreetcn.com reported Thursday, citing data from HSBC Holdings Plc. (00005.HK). The latest reading is in line with a flash estimate released last month and 0.3 of a point lower than November’s result. A reading below 50 indicates contraction. The sub-index for new export orders hit a four-month low of 49.1. The moderation of December’s data was mainly due to slower output growth and a seasonal decline in export orders, Qu Hongbin, HSBC’s chief economist for China, was quoted as saying.
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