Growth Slows in Chinese Manufacturing, Economy Losing Momentum

More signs of a slowdown in China. A gauge of Chinese manufacturing fell to a six month low in November. HSBC's monthly purchasing index fell to 50.0, down from the previous months's 50.4. Numbers below 50 indicate a contraction. China's economic growth reached a five-year low of 7.3% last quarter. That's despite Chinese authorities cutting interest rates on November 21st. Economists have predicted further monetary and fiscal easing measures to come. Policymakers recently raised concerns that the world's second-largest economy could dip below 7% growth levels. Sources say government authorities are also prepared to ease lending curbs and potentially lower rates further to offset slowing growth.