- Publisher:
- 03.01.2016 13:01:30 / agency xinhua
The Purchasing Managers Index (IGC) of the Chinese general manufacturing sector Caixin, an indicator of manufacturing activity, fell to 48 in February from 48.4 in January, the private study published Tuesday by the financial information provider Markit and sponsored by Caixin Media.
the figure was the lowest in the last five months.
a reading above 50 indicates expansion, while one below shows contraction.
the category production fell again in February by the steepest rate since September, as all new business fell for the eighth consecutive month.
at the same time, stocks of finished goods fell at the fastest pace since September 2011. manufacturers continued lowering their prices, since material costs fell, albeit at a slower rate in recent 18 years under deflationary pressure.
“the index, which includes all key categories, such as production, new orders and employment, shows that the conditions are getting worse, which means that the road of the economy towards stability remains uneven, “said He Fan, chief economist at Caixin Insight Group.
the National Bureau of Statistics and the Federation of Logistics and Procurement of China announced Tuesday that the IGC stood in 49, compared to 49.4 in January.
The official IGC polled 3,000 relatively large companies in China. The IGC Caixin includes 420 medium and small manufacturing companies and is relatively volatile due to the reduced size of the sample and the predominance of small firms
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