China manufacturing growth fell to 8-month low

0
229

Beijing:  World’s second-biggest economy, China, showing signs of the decline in the strength of manufacturing growth. China’s manufacturing growth fell to an eight-month low in February, as per official figures.

 

The purchasing managers’ index (PMI) tumbled to 50.2, the National Bureau of Statistics reported on its website, in the third straight drop from 50.5 in January, 51.0 in December and 51.4 in November. A figure over 50 indicates expansion while one below shows contraction.

This marked China’s 17th consecutive month of manufacturing growth but at a slowing rate – the lowest since a June reading of 50.1. China’s economic growth has weakened in recent years, hitting 7.7 percent in 2013 and the year before, the lowest level since 1999.