China February PMI falls to 4-year low, employment hit

Beijing

CHINA's Purchasing Managers' Index (PMI) fell to its lowest point in four years in February, adding further pressure on the government to loosen monetary policies and support growth.

The official PMI dropped to 49.0 last month, its seventh monthly decline.

Meanwhile, the private reading published by Caixin hit 48 and has been contracting for one year now. The index is more geared towards small private enterprises which struggle with higher credit costs and less government support.

Both indices were under analysts' expectations. A reading above 50 signals expansion of manufacturing activity while an index under 50 points to co…