China’s official PMI fell to an eight-month low in February.
Reuters and others report that the PMI – which focuses on larger, state-run factories – fell from January’s 50.5 to 50.2 in the month affected by Chinese Lunar New Year celebrations.
Any result above 50 indicates expansion in the survey-based, seasonally-adjusted index.
"Judging from market demand and production in some industries, we expect economic growth to remain steady in the future," Reuters reports Zhang Liqun, an economist at the Development Research Centre, as saying.
The result is better than that of the HSBC/Markit flash PMI of 48.3, and slightly better than the market’s expectation of a result of 50.1.
“This shows a further slowdown in the economy, but it’s a modest slowdown,” explained Shuang Ding, a Citigroup economist, in comments reported by the Wall Street Journal.
“It hasn’t reached the point where it would trigger a policy response from the government.”
Image: News Corp