Xinhua quoted the China Federation of Logistics and Purchasing said the Purchasing Managers' Index for China manufacturing sector stood at 52% in February down by 3.8 percentage points from January 2010.
It was the 12th straight month the index was above 50%.
The PMI includes a package of indices to measure manufacturing sector performance. A reading above 50% indicates economic expansion while that below 50% indicates contraction.
According to the CELP the figure stood at 56.6% in December 2009 the highest since May 2008.
Mr Zhang Liqun a researcher with the State Council Development Research Center said the February PMI figure showed uncertainties still existed in China's economic recovery, adding that he was cautiously optimistic about China's export growth prospects.
The PMI reading was based on data from the National Bureau of Statistics, covering purchasing and supply managers in more than 700 firms across China.
(Sourced from http://www.steelguru.com/news/index/2010/03/22/MTM3ODE1/Macroeconomic_indicators_-_China_PMI_for_manufacturing_sector_down_in_February.html)
Sunday, March 21, 2010
Macroeconomic indicators - China PMI for manufacturing sector down in February
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