Chinese manufacturers signalled a renewed deterioration in operating conditions at the end of 2014, with both output and new orders falling slightly on the month. In contrast, new export business continued to increase in December, and at a slightly quicker rate than in November. In response to lower total new orders, firms cut their workforce numbers again in December, albeit only slightly. On the prices front, both input prices and output charges fell at the sharpest rates in nine months. After adjusting for seasonal factors, the HSBC Purchasing Managers’ Index™ (PMI™) – a composite indicator designed to provide a ... (full story)