The Purchasing Managers’ Index released by HSBC and Markit Economics on September 3 slumped to 47.6 in August from 49.3 in the previous month as the mainland’s manufacturing activity hit the lowest level since March 2009, fuelling job concerns as producers deal with dwindling orders at home and abroad.
A PMI reading above 50 indicates growth in manufacturing while a reading below 50 indicates contraction.