Chinese Manufacturing PMI Falls To 8-Month Low

Chinese official PMI fell to 50.2 in February, to an eight-month low.

The reading was down from 50.5 the previous month, but was modestly better than expectations for 50.1.

A reading below 50 indicates contraction.

On March 2, we get HSBC PMI which is already in a contractionary phase. The flash reading out earlier this month, came in at 48.3.

Economists have said that markets should interpret the data with some caution because of the impact of the Lunar New Year holiday.

The HSBC reading has exposure to small and medium enterprises (SMEs) while the official figure has exposure to larger companies.

Here’s the full table which shows that almost all of the sub-indices in the manufacturing report fell in February, and many are in contractionary territory.:

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