The PMI for China’s manufacturing industry fell to 48.3 points in February which is the second consecutive monthly drop after a final reading of 49.5 points in January, British bank HSBC said Thursday.
The PMI index for China tracks manufacturing activity in factories and workshops, and a reading below 50 points signals economic contraction. In February, the manufacturing PMI for the world’s second largest economy hit its lowest level in seven months as new orders as well as production were decreasing, said HSBC economist Qu Hongbin.
