China manufacturing activity contracts says HSBC survey
China's manufacturing activity contracted in March, a preliminary HSBC survey showed, raising fears the global slowdown is harming its economy.
The HSBC Purchasing Manager's Index (PMI) fell to 48.1 from 49.6 in February, the fifth monthly fall.
The data comes just days after China said it expected growth of 7.5% in 2012, the lowest target since 2004.
John Sudworth reports.
22 Mar 2012