Mining Shares Take Hit after China Manufacturing Growth Slows
December 1, 2014 11:24 am
Figures out this morning show that Chinas factory activity has slowed more than expected in November, highlighting current worries about the slow down in its economy.
The official purchasing managers’ index (PMI) came in at 50.3 for November, down from 50.8 in October and less than the figure expected by analysts of 50.6.
Chinese economic growth has slowed to 7.3% in the third quarter this year, the slowest the economy has grown since the start of the financial crisis. The country looks set to miss its yearly growth target of 7.5% for the first time in 15 years.
Figures out this morning show that Chinas factory activity has slowed more than expected in November, highlighting current worries about the slow down in its economy.
The official purchasing managers’ index (PMI) came in at 50.3 for November, down from 50.8 in October and less than the figure expected by analysts of 50.6.
Chinese economic growth has slowed to 7.3% in the third quarter this year, the slowest the economy has grown since the start of the financial crisis. The country looks set to miss its yearly growth target of 7.5% for the first time in 15 years.
The news has impacted on FTSE100 mining shares, with both BHP Billiton (BLT.L) and Anglo American (AAL.L) taking a hit – both dropping nearly 4%.
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