HSBC manufacturing PMI falls in February

The HSBC China manufacturing Purchasing Managers’ Index fell to a seven-month low of 48.5 in February from 49.5 a month earlier, Reuters reported. Recording a third straight monthly decline, the figure was in line with the 48.3 reported in the preliminary version of the PMI released on February 20. A reading below 50 indicates a contraction. “Signs are becoming clear the risks to GDP growth are tilting to the downside,” said Hongbin Qu, chief economist at HSBC. “This calls for policy fine-tuning measures to stabilize market expectations and steady the pace of growth in the coming quarters.”