Headwinds in China

Manufacturing in China recorded the weakest performance since the global recession eased in 2009, underscoring the case for monetary stimulus as the EU banking and monetary crisis weighs on the world’s second-largest economy.

A purchasing managers’ index compiled by the China Federation of Logistics and Purchasing slid to 49 in November, lower than all but two of 18 forecasts, in a Bloomberg News survey. 

Readings below 50 signal a contraction.

http://www.bloomberg.com/news/2011-12-01/china-s-manufacturing-at-weakest-since-2009-augurs-further-easing-economy.html