China’s manufacturing is expanding at the slowest pace in four months. HSBC Holdings Plc and Markit Economics today said that the preliminary reading of a Purchasing Managers’ Index was at 50.4 in February. That compares with the 52.3 final reading for January and the 52.2 median estimate of 11 analysts surveyed by Bloomberg News. A number above 50 indicates expansion.
Today’s report may damp optimism that an economic rebound is gaining traction following a seven-quarter slowdown and the weakest annual expansion in 13 years. The benchmark Shanghai Composite Index (SHCOMP) last week dropped the most since May 2011 on concern the government will expand restrictions on the property market to curb home-price gains.
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