01 Jun '11, 4am

Money - China says manufacturing slows in May: BEIJING - CHINA'S manufacturing sector expanded at the slowest pa...

BEIJING - CHINA'S manufacturing sector expanded at the slowest pace in 10 months in May, independent data showed on Wednesday, as Beijing seeks to rein in the world's second-largest economy and tame inflation. The HSBC China Manufacturing PMI, or purchasing managers index, fell to 51.6 in May from 51.8 in April as raw material prices eased - evidence that government tightening moves are bearing fruit, the British banking giant said. The final reading was higher than preliminary data released by HSBC last month which suggested the PMI had slipped to 51.1 in May. That data triggered falls on the Shanghai and Hong Kong bourses amid fears of an economic slowdown. A reading above 50 indicates the sector is expanding while a reading below 50 indicates contraction. Official data released by the China Federation of Logistics and Purchasing on Wednesday showed PMI fell to a nine-mo...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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