Activity in the processing industry in China fell in February to 3-year low

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PMI activity index in the processing industry of China amounted to 49.2 points in February, having decreased from the January level of 49.5 points to the minimum level for the last 3 years, data from the country's National Bureau of Statistics showed. The February value of the index did not meet economists' forecast of 49.4 points. Experts believe that the decline in activity in the industry is associated with a weakening of production during the days of the new year celebration according to the lunar calendar. In their opinion, the decline in demand abroad is also a deterrent to the growth of the index. The indicator, which determines the level of new orders, showed a slight increase in February, rising to 50.6 points from 49.6 points. At the same time, the indicator characterizing the state of new export orders dropped to 45.2 points from 46.9 points. Its value was the lowest since February 2009. The production sub-index dropped below 50 points for the first time since January 2009. Its value was 49.5 points.

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