- China's flash manufacturing PMI has tumbled to a seven-month low of 48.3 in February from 49.5 in January and missed consensus of 49.4.
- Manufacturing Output Index dropped to 49.2 from 50.8.
- The sub-indexes for new orders, new export orders and employment contracted.
- "The building-up of disinflationary pressures implies that the underlying momentum for manufacturing growth could be weakening," says HSBC.
- The faster contraction of PMI adds to other data that provides a mixed picture for China's economy, although the latest figures may have been hampered by the Chinese New Year.
- The Shanghai Composite is -0.2%. (PR)
- ETFs: FXI, PGJ, GXC, FXP, YINN, CYB, HAO, CNY, KWEB, TAO, ASHR, CHIQ, CHIX, DSUM, YANG, MCHI, CQQQ, PEK, QQQC, XPP, YAO, CHXX, FXCH, CHII, CHXF, YXI, ECNS, CHIE, CHIM, FCA, KFYP, CHLC, TCHI, CHNA
Chinese factory activity contracts at faster pace
Feb 20 2014, 02:23 ET
This was corrected on 02/20/2014 at 02:27 AM.