Communist China manufacturing falls to 32 month low, slow US and Europe demand cited

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11/30/11, "China's manufacturing activity falls to a 32-month low," BBC

"China'a manufacturing activity fell to a 32-month low in November, hurt by a slowdown in the global economy.

China's official Purchasing Managers Index (PMI) fell to 49.0 in November, the lowest level since March 2009.

The industry survey data comes amid concerns that a slowdown in the global economy may dent demand for Chinese goods and hurt its economy.

PMI is a key indicator of manufacturing activity and a reading below 50 shows contraction....

The success of its manufacturing sector has been key to China's economic growth in the past few years.

However, recent economic problems in two of its biggest export markets - the US and Europe - have raised concerns about whether the sector can maintain its growth pace.

Those fears were fanned further as the China Federation of Logistics and Purchasing (CFLP), who produce the official PMI, said that the index for new orders also fell in November.

The new export orders index dipped to 45.6 in November from 48.6 the month before,

• indicating an accelerating decline in demand."

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