China – Factories production drops for an eighth consecutive month

China’s factory sector shrank for an eighth straight month in June as export orders sentiment hit its weakest level since early 2009, according to a survey that indicates the country’s economic trough may extend well into the third quarter.

The HSBC Flash Purchasing Managers Index, the earliest monthly indicator of China’s industrial activity, fell to a seven-month low of 48.1 in June from a final reading of 48.4 in May.

It marked the eighth consecutive month that the HSBC PMI has been below 50, indicating contraction and matching a similar streak during the much deeper slowdown during the global financial crisis of 2008/2009…

Source: China factories in eighth month of contraction – PMI | Reuters.