Photo: Jakob Montrasio on flickr
Next week comes the latest reading of China’s PMI — the survey of manufacturers — but today HSBC has rolled out a new survey, its “Flash” PMI to give an advance reading on the number.And it was pretty mediocre.
It fell from over 54 in January to 51.5 for February. That still means more companies saw expansion than didn’t, but it would represent the lowest month in 7 months.
Of course, we’ll have to wait until next month to see how this fits with the official PMI.
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