China's Official PMI Gauge Hasn't Been Weaker Since 2009: Chart

A key gauge for China’s manufacturing industry is showing no sign of reversing a slump even as authorities continue to loosen policy and take steps to juice up the economy. The manufacturing purchasing managers index dropped to 49 in February. It hasn’t been below that level since January 2009. "It’s a long winter for China’s economy," Bloomberg Intelligence economists Tom Orlik and Fielding Chen wrote in a note.

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