The final HSBC China Purchasing Managers’ Index (PMI) fell to 48.5 in February from 49.5 in January, its lowest in seven months, signaling a further deterioration in the health of the Chinese manufacturing sector.
This is roughly in line with the 48.3 flash reading released last month. A PMI reading above 50 indicates expanding activity while one below that level points to a contraction.
“The final reading of the HSBC China Manufacturing PMI confirmed the weakness of manufacturing growth,” said Hongbin Qu, chief economist of China & co-head of Asian Economic Research at HSBC.
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