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China factory activity shrinks in Feb.
March 1, 2016, 4:42 am

The official Purchasing Managers' Index (PMI) fell to 49.0 in February from January's reading of 49.4 [Xinhua]

The official Purchasing Managers’ Index (PMI) fell to 49.0 in February from January’s reading of 49.4 [Xinhua]

China’s manufacturing activity contracted for the seventh straight month in February, signalling persistent weakness, official data showed on Tuesday.

The purchasing managers’ index (PMI) came in at 49, down from January’s 49.4, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

It was the lowest reading since November 2011.

The official PMI survey, which tends to focus on larger, state firms, has shown persistent declines in employment for the last 3-1/2 years.

 

Source: Agencies