HSBC China PMI Comes In Line With Expectations (FXI, EWH)

HSBC China manufacturing PMI fell to 47.7 in July, in line with expectations.

This is down from 48.2 in June.

Minutes earlier we got China's official PMI, which  beat expectations, rising to 50.3 in July, from 50.1 the previous month. Economists were expecting manufacturing to contract.

HSBC Flash PMI which reflects the responses of 85 - 90% of those surveyed, fell to an 11-month lowof 47.7. This spooked markets and showed the Chinese economic slowdown is deepening.

Societe Generale analysts pointed out that the weakness in the Flash PMI was "broadly based, with four out of five major sub-indices deteriorating again." The employment sub-index in the Flash PMI report came in at 47.3 is at its lowest since early 2009.

Here's a look at how China's manufacturing PMI has been shaping up:

SEE ALSO: 10 Ways Chinese Manufacturing Makes The Rest Of The World Look Tiny

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