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Tuesday, May 6, 2014

Chinese HSBC PMI edged up to 48.1 in April

From 48 in March but came in below the flash figure of 48.3. The reading indicates that factory activity contracted for a fourth consecutive month, although the figure contrasts with official data that shows slight growth. While Beijing has recently introduced additional reform aimed at boosting the economy by promoting more private-sector investment, HSBC believes that "bolder actions will be required to ensure the economy regains its momentum."

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