BEIJING, March 4 (Reuters) – China’s factory activity contracted for the second consecutive month in February, an official survey showed on Wednesday, suggesting a need for further policy stimulus as efforts to ship goods abroad fail to offset depressed demand and investment.
The official purchasing managers’ index (PMI) dropped to 49.0 in February, a 4-month low, versus 49.3 in January, below the 50-mark separating growth from contraction, and missing a median forecast of 49.1 in a Reuters poll.
(Reporting by Joe Cash; Editing by Jacqueline Wong)
