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China official factory PMI eases to 50.1 in February

Friday, 01 March, 2013, 9:09am

Reuters in Beijing

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China’s official Purchasing Managers’ Index (PMI) was 50.1 in February, the government said on Friday, missing market expectations for a reading of 50.2 as overseas demand for Chinese goods remained tepid.

The data, released by the National Bureau of Statistics, showed that new orders - and particularly new export orders - were weaker than January.

The overall index, down from January’s 50.4 reading, signals that a mild economic recovery is still taking place in China. The 50-point level separates expanding activity from contraction versus the previous month in China’s vast manufacturing sector.