China's Feb flash PMI up but export orders down

Beijing

ACTIVITY in China's mammoth factory sector edged up to a four-month high in February but export orders shrank at their fastest rate in 20 months, a private survey showed, painting a murky outlook that argues for more policy support.

The flash HSBC/Markit Purchasing Managers' Index (PMI) inched up to 50.1 in February, a whisker above the 50-point level that separates growth in activity from a contraction on a monthly basis. Economists polled by Reuters had forecast a reading of 49.5, little changed from January's final PMI of 49.7.