PMI survey of factory managers reveals likelihood for the second largest economy to experience a seventh quarter of slowing growth.
A private sector survey 
of Chinese manufacturers has indicated that the country is set to experience a seventh quarter of slowing growth although activity is stabilising in September after a nine-month low in August, reports the Guardian.
The HSBC Flash China manufacturing purchasing managers’ index (PMI) revealed that the country’s manufacturing decline was stopped but did not shows signs of a quick turnaround.
Qu Hongbin, Chief Economist for China, HSBC, commented: “China’s manufacturing growth is still slowing, but the pace of slowdown is stabilising. Manufacturing activities remain lacklustre, thanks to weak new business flows and a longer than expected destocking process.
“This is adding more pressure to the labour market and has prompted Beijing to step up easing over the past weeks. The recent easing measures should be working to lead to a modest improvement from the fourth quarter onwards.”
China’s decline has been oft-discussed, and extends the findings of the state PMI, which announced a 32-month low in December 2011. China’s manufacturing success has been inextricably linked to global success, and a number of outlets including Bloomberg and the BBC warned of the ramifications China’s decline may have on the recovery of the US and Europe.