HSBC's February PMI Declines to 55.8
A .2 decline was observed in HSBC China Manufacturing Purchasing Managers Index, which is regarded as a gauge of nationwide manufacturing activity, falling from 57.4, January to 55.8 February.
Since the last 11 months the HSBC has been amounting in upper levels , however, it was a little bit over above 50.It was said that the manufacturing activity has been continuing to expand though at a slower pace. But with new Index reading that is below 50 it is the indication contraction in manufacturing activity.
In a statement the HSBC Chief Economist for China has said "Despite the moderation in the headline China Manufacturing PMI, growth momentum for China's manufacturing sector remains strong which points a further acceleration in industrial activities in the coming quarters,"
