Australian, NZ dollars slip as weaker China PMI stokes global growth doubts

Tue, 23 Apr 2013

April 23 (BusinessDesk) – The Australian and New Zealand dollars fell after a measure of manufacturing in China grew at a slower-than-expected pace this month, stoking concerns that the world’s second-biggest economy is stumbling and global expansion is more muted. The HSBC Flash Purchasing Managers Index fell to 50.5 in April from 51.6 in March, missing estimates in a Bloomberg survey of 51.5. The unofficial PMI measure comes a week after China’s gross domestic product printed at a weaker-than-expected 7.7 percent. The Australian dollar rec...

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