China’s official manufacturing purchasing managers index fell to 50.2 in February from 50.5 in January, suggesting slower expansion due to the effects of the Lunar New Year holiday, China Securities Journal reported Monday, citing data from the National Bureau of Statistics and the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion. Most of the sub-indices fell, with new export orders and imports slipping to 48.2 and 46.5, respectively. However, the readings for production and business expectations climbed 10.5 points to an 11-month high of 61.8, suggesting stronger confidence. Some analysts expect the manufacturing sector to keep a stable course as the holiday effect wanes and the weather gets warmer, the report said.
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