In February this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) decreased to 50.4, indicating a four-month low and comparing to the final value of 52.3 recorded in January, as announced by the HSBC.
The new export orders sub-index for the manufacturing sector in China in February declined to 49.8 from 50.5 in January, dropping below the 50 point mark which separates expansion in activity from contraction.
Commenting on the new data, Hongbin Qu, chief economist for China at HSBC, stated, “Although the flash manufacturing PMI declined from a two-year high in January, China’s manufacturing PMI was above 50 for the fourth consecutive month, indicating that China’s economic recovery is continuing.” He added, “The underlying strength of Chinese growth recovery remains intact, as indicated by the still expanding employment and the recent pick-up of credit growth.”