China’s Official PMI Drops To 50.2 In Feb


China’s official Purchasing Managers’ Index (PMI) declined for the third consecutive month with a reading of 50.2 in February, the lowest level since last June, according to data released by China’s National Bureau of Statistics.

"While the drop of the PMI could be largely attributed to the festival effects, other indicators also point to a weaker-than-expected growth profile," writes Liu Li-Gang, chief Greater China economist at ANZ, in a report.

"If the downward trend remains, we view that the risk of sub-7% growth in the first half of 2014 will increase," he adds.

 
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