Economists were expecting a decline to 49.9.
A reading below 50 signals contraction in the industry. So, it could have been worse.
Nevertheless, the numbers would suggest that China’s growth rate is decelerating.
All of the orders components of the index fell and reflect contraction. Also, the employment index fell to 49.7 from 50.5 a month ago.
Below is a complete break down of the official data courtesy of the Li & Fung Group.
Photo: Li Fung Group