Reports from Nasianl Statistics Agency and the Federation of Logistics and Purchasing in China, the purchasing managers index (PMI) was 50.1 in the official February, the weakest in five months and down from 50.4 in January. Report of a separate index from HSBC Holdings Plc and Market Economics fell to its lowest level in 4 months from 52.3 to 50.4. The discussion above 50 indicates an expantion.
Contraction in manufacturing medium and small industries in the official survey highlighted the problem on China's new government will face when the new government takes over power this month after the annual meeting of parliament.
Li Keqiang, designated as prime minister, faced with the task of getting rebounds sustainable economic growth without inflation and lead to bad credit bank.
"The economy is clearly weak. Official PMI almost line between expansion and contraction, and seasonal factors of the Chinese New Year holiday itself can not explain this, "said Dongming Xie, China economist at Oversea-Chinese Banking Corp. in Singapore, Friday (1/3).
The growth of Chinese manufacturers who softened up to several months and the lowest in February, is also assessed as domestic demand slumped, thus burdening the company has been hit by a slowdown in foreign sales and underscores the economic recovery patchiness.
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