Area Development News Desk (03/05/2009)
Manufacturing activity in China contracted for a fifth straight month
in February, but the decline slowed to a level that falls just short of
neutral. Agence France-Presse (AFP) reports that the nation's
Purchasing Managers' Index (PMI) rose to 49 in February, up from 45.3
in January, according to statistics from the state-run Federation of
Logistics and Purchasing. Economists suggest that the figure suggests a
stabilization of the Chinese economy, but that manufacturers should not
expect strong business growth this year. "Amid an extremely difficult
economic climate, the best they can do perhaps is to survive the global
tsunami," says Sherman Chan, an economist for Moody's Economy.com,
quoted by AFP.
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