Chinese manufacturers reported sluggish business for a seventh month in a row, with a PMI reading for February which was worse than expected.
The official manufacturing PMI for February came in at 49, compared to economists’ expectations of 49.4. It was 49.4 in January.
The reading means the manufacturing sector has been shrinking for the past seven months. It is the lowest reading since November 2011, when it was also 49.
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