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Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

Cash management poll 2008:

Cash management poll 2008:

Results now live

Tuesday, September 2, 2008

Hong Kong's purchasing managers' index declines to 48.5 in August.





Hong Kong's purchasing managers' index declines to 48.5 in August. According to news agency Reuters , Hong Kong's purchasing managers' index (PMI) stood at a seasonally adjusted 48.5 in August compared to 49.4 in July. This was the lowest reading since Dec 2004 and the second consecutive month in which the reading came in at below 50. A reading above 50 indicates growth in private-sector activity. The decline in the PMI reading was the result of contraction in new orders as a result of the global economic slowdown. The index reading is compiled on the basis of a survey of 300 private companies.







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