Economics
China Manufacturing Gauge Drops as Growth Pickup Stalls
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A Chinese manufacturing gauge fell more than analysts estimated in August as a credit slowdown and property slump add to risks the world’s second-largest economy will miss its growth target this year.
The preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics was at 50.3, trailing all 22 estimates in a Bloomberg News survey of economists that had a median projection of 51.5. The measure dropped from July’s final reading of 51.7 and, if confirmed on Sept. 1, will be a three-month low. Numbers above 50 indicate expansion.