China’s manufacturing slowdown last month adds to challenges for growth in the world’s second-biggest economy as Premier Li Keqiang maps out the government’s strategy to the nation’s legislature this week.
The Purchasing Managers’ Index (CPMINDX) for February was at 50.2, the National Bureau of Statistics and China Federation of Logistics and Purchasing said in Beijing on March 1. That compared with January’s 50.5 reading and the 50.1 median analyst estimate in a Bloomberg News survey. A number above 50 signals expansion.
The data underscore the challenges facing the government as it tries to sustain expansion above Li’s 7 percent bottom line while reining in credit, boosting jobs and curbing social unrest. The yuan’s biggest decline on record against the dollar in February may add to investor concerns that the economy is vulnerable to financial risks.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at email@example.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.