HSBC China manufacturing gauge falls

A preliminary barometer of China’s manufacturing activity revealed slower expansion in February, prompting concerns over the pace of the nation’s economic recovery, The Wall Street Journal reported. The initial HSBC China Manufacturing Purchasing Managers Index – a measure of the country’s manufacturing activity – slid to 50.4 this month, in contrast to the final measure of 52.3 the month before, said HSBC (HBC.NYSE, HSBA.LON, 0005.HKG) on Monday. A level over 50 indicates faster growth from the month before, while a figure under 50 indicates decelerating growth. The slower acceleration of manufacturing growth is partly due to the week-long Lunar new year holiday and weak global demand, said Qu Hongbin, a HSBC economist.