HSBC Feb flash PMI for China hits seven-month low at 48.3

20 February 2014 05:13 Source:ICIS News

SINGAPORE (ICIS)--HSBC’s flash manufacturing purchasing managers’ index (PMI) for China was at a seven-month low of 48.3 in February, down from its final reading of 49.5 in January, the bank said on Thursday.

The February official data was also lower than the market players’ expectation of 49.3, according to the bank.

The new order index dropped from 50.1 in January to 48.1 in February, also a seven-month new low, while new orders for exports were at 49.3 in February from 48.4 in January, which reflects a slowing down in the contraction.

A PMI reading above 50 indicates an expansion, while a reading below 50 denotes a contraction in manufacturing activities.

By Dolly Wu