As the economic slowdown deepened, China's manufacturing activity has fallen to 11-month low, a survey showed on Wednesday.
HSBC said its monthly purchasing managers index preliminary version of this month, down from 48.2 in June to 47.7 scale of 100 points digital reading below 50 indicates contraction in activity.
In the latest quarter, China's economic growth dropped to two decades of low 7.5%, prompting Beijing's recommendations may need to introduce new stimulus to avoid politically dangerous job losses.
HSBC (HSBC) economist Qu Hongbin said in a statement, "decline in manufacturing increased the pressure on the labor market, and said Beijing would require" the introduction of additional fine-tuning measures to stabilize economic growth.
Figures seem to confirm analysts have warned that China's economic growth is likely to decline further, adding pressure on the Communist Party leaders came to power last year. They are trying to shift from dependence on exports and investment in China slower, more sustainable growth for domestic consumption basis.
By the Chinese newspaper on Tuesday quoted the country's economic officials, Premier Li Keqiang said the bottom line growth of 7%. Financial markets is expected to rise, which means that Beijing may take measures to reverse the decline in growth for two consecutive quarters.
Companies output and orders fell at a faster rate, this month, according to HSBC. Preliminary report is based on survey of 420 manufacturing firms monthly 85-90% response.
 



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