Economy

xchrom

(108,903 posts)

41. China manufacturing index edges higher: HSBC

Wed Feb 22, 2012, 10:33 AM

Feb 2012

http://www.marketwatch.com/story/china-manufacturing-index-edges-higher-hsbc-2012-02-21?dist=beforebell

HONG KONG (MarketWatch) — A closely watched gauge of Chinese factory activity rose to a four-month high in February but remained at levels that indicate modest contraction, while underlying data showed a weakening in new export orders.

The initial “flash” estimate for HSBC’s February manufacturing Purchasing Managers’ Index rose to 49.7 on a 100-point scale, and up from a final reading of 48.8 the previous month, the banking group said Wednesday.

Still, the result remained just below the 50 level which divides overall expansion and contraction.

HSBC economist Hongbin Qu said the slight uptick in the headline number may be related to factory restarts after the Lunar New Year holiday, adding that there was little to cheer in the report overall.

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