China's PMI fell to 50.4 in May

Source: Marketwatch
China's manufacturing activity slowed down in May, after growing for five months in a row. The PMI lost 2.9 points, approaching 50.4 in May as compared to April's figure of 53.3, according to China's Bureau of Statistics. Reading above 50 indicates expansion. Meanwhile, HSBC reported that its PMI estimate shank to 48.4 in May, being weaker than initial reading of 48.7. The fall in PMI was sharp, indicating essential downside risk for China's economy, said Xianfang Ren and Alistair Thornton, economists from IHS Global Insight.


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Fri, 01 Jun 2012 07:19:09 GMT

New Zealand's commodity prices tumbled to 21-month low

The commodity price index measured by ANZ dropped by 4.2 %, attaining 21-month low last month. The ANZ Commodity Price Index approached 260.8, indicating decline for the last 12 months. The major contributors to the decline were falling prices of diary and wool products while slight increase in kiwifruit and apple prices limited the downswing.

Fri, 01 Jun 2012 09:20:09 GMT

British pound depreciates 0.5% versus Dollar

British Sterling declined versus greenback on Thursday on speculation the widening European debt turmoil is curbing UK economic outlook. The Pound fell 0.5% versus its US peer to USD 1.5408 and dropped 1.4% against Yen to JPY 120.66. Currently GBP/USD is trading at USD 1.5384. 

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