NEW YORK —
Stock futures are slipping after the latest manufacturing report out of China which suggests that one of the world’s biggest economies may be slowing.
The Dow Jones industrial average is down 25 points to 13,117. The Standard & Poor’s 500 index down 2 points to 1,401.2. The Nasdaq composite is down 4.75 points at 2,746.
While the Chinese report showed that its purchasing managers’ index gained momentum for the fourth straight month, an HSBC report shows that, adjusted for seasonal factors, China’s PMI is slipping. The HSBC data is more reflective of China’s export sector and it shows the lowest average reading in three years during the first quarter.
The U.S. will release data later Monday on its own manufacturing sector, as well as a report on construction spending.
National News
April 2, 2012
US stock futures dip on China manufacturing data
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