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1st LD: Caixin flash China general manufacturing PMI hits 15-month low

Xinhua, July 24, 2015 Adjust font size:

The Caixin flash China general manufacturing Purchasing Managers' Index (PMI) retreated to a 15-month low of 48.2 in July from 49.4 in June, a preliminary Caixin survey showed on Friday.

A reading above 50 indicates expansion, while a reading below that represents contraction.

This is the first time the index has been released since it was renamed after Caixin Media Co., Ltd. replaced HSBC as sponsor of Markit's China PMI. HSBC held the sponsorship for five years, and CLSA sponsored the Markit China PMI prior to HSBC.

The flash index is published on a monthly basis ahead of final PMI data, making it the earliest available indicator of manufacturing sector operating conditions in China. The estimate is based on approximately 85 to 90 percent of total PMI survey responses each month and is designed to provide an indication of the final PMI.

The final PMI for July will be released on Aug. 3. Endi