Growth in China’s giant manufacturing sector in February pulled back from two-year highs despite racking up a fourth consecutive month of expansion, a private survey showed on Monday, as foreign demand remained unsteady.
The HSBC flash purchasing managers’ index (PMI) for February slipped to 50.4, the lowest in four months and down from January’s final reading of 52.3, which had been the best showing since January 2011.
The flash PMI is the earliest indicator of China’s economic health in any month and should not alter expectations that the world’s No. 2 economy is enjoying a gentle recovery, a welcome development for the country’s new leaders who take office in March.
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