Caixin China Manufacturing PMI arrived at 50.9 vs 51.5 in January
China Caixin/IHS Markit February manufacturing PMI arrived at 50.9 vs 51.5 in January.
AUD/USD is stable on the data.
Reuters explained ''China's factory activity expanded at the slowest pace in nine months in February as weak overseas demand and coronavirus flare-ups weighed on output, adding pressure on the country's labour market, a business survey showed on Monday.''
''The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery in China, although domestic COVID-19 cases have since been stamped out and analysts expect a strong rebound in full-year growth.''
Description of the Caixin China Manufacturing PMI
The Caixin China Manufacturing PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.
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