China’s Manufacturing Growth Weakens as New Orders Drop

Chinese manufacturing indexes slipped to seven-month lows as overseas orders dropped, and South Korea cut its estimate for exports this year, underscoring risks to Asian economies from Europe’s debt crisis.

A purchasing managers’ index for China fell to 48.2 in June from 48.4 in May, HSBC Holdings Plc and Markit said today. A similar measure released by the government yesterday also slid. South Korea yesterday lowered its export growth forecast to 3.5 percent from 6.7 percent.