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China Manufacturing PMI Eases To 48.5 In February - HSBC

An index measuring manufacturing activity in China came in with a score of 48.5 in February, the latest survey from HSBC and Markit Economics revealed on Monday.

That was in line with forecasts and down from 49.5 in January.

A score above 50 signals expansion in a sector, while a reading below 50 means contraction.

Among the individual components of the survey, both output and new orders contracted for the first time since July. Payroll numbers were slashed at the fastest rate since March 2009, and there was a solid reduction of output charges.

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