Growth lower than expected

According to data released Sunday by China’s National Bureau of Statistics (NBS), economic growth in China’s industry is at its slowest pace in nine months. The purchasing managers’ index fell to 50.6 points in February from 51.3 points in January. This signals China’s manufacturing sector is still growing but at a slower pace than expected. Economists expected a better result for February and only expected a decline to 51.1 points.

Falling orders from abroad and the Chinese New Year holidays, in particular, appear to have dampened sentiment. As a result, the sub-index for foreign orders fell to 48.8 points, down from 50.2 points in January. Economic activity usually comes to a standstill during the New Year celebrations. niw