China official manufacturing PMI at 50.2 (vs. 50.0 expected)

  • 50.0 expected (Bloomberg survey) or 50.1 (Reuters survey)
  • prior was 50.5
  • An eight-month low
  • China’s economic data can be mixed in the first few weeks of the year due to the Lunar New Year holiday

Shuang Ding, an economist at Citigroup:

  • “This shows a further slowdown in the economy, but it’s a modest slowdown. It hasn’t reached the point where it would trigger a policy response from the government.”

A statement from the China Federation of Logistics and Purchasing (compilers of the survey, along with China’s official statistical bureau):

  • “The effects of the holiday can’t be excluded,” when interpreting the PMI … “Based on market demand and the production situation in some sectors, we expect that future economic growth will remain generally stable.”

The HSBC/Markit PMI follows on Monday (March 3) at 0145 GMT.

The “Flash” reading for HSBC manufacturing PMI for February came in at a lower than expected 48.3 back on the 20th.

More at: China PMI Falls to 50.2 in Latest Sign of Slowdown (The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline)

Table via Reuters:

china pmi table 01 March 2014