China Manufacturing Fears Prompt Steel Stock Sell-Off
- Friday, September 21, 2012, 2:02
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Steel producers are taking a hit today, after China and the euro-zone reported weak purchasing managers index (PMI) numbers this morning, continuing a trend of contraction in global manufacturing. A PMI number under 50 represents contraction, and HSBC estimates a PMI of 47.8 for China this month, up just two tenths from August. The euro-zone’s flash PMI composite of 45.9 represents the sharpest contraction since summer of 2009.
http://www.forbes.com/sites/chrisbarth/2012/09/20/china-manufacturing-fears-prompt-steel-stock-sell-off/
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