Nervous investors in China were given a fresh reason to worry yesterday as a slew of reports on manufacturing suggested that the pace of growth in factory activity is slowing across much of Asia and may even have turned negative in China.
China's manufacturing output contracted slightly on one unofficial but closely watched measure while the country's National Bureau of Statistics described the official numbers as grim.
The HSBC purchasing managers' index remained positive, falling to 50.4 from 52.7 in May, and the official PMI index published by the Federation of Logistics and Purchasing fell to 52.1 in June from 53.9. An index figure above 50 indicates an expansion of activity, while a figure below 50 indicates a contraction.
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