China Slows
From China Daily:
BEIJING — Business activity in China’s non-manufacturing sector slowed sharply in February on waning market demand after the Spring Festival holiday, the China Federation of Logistics and Purchasing (CFLP) said Saturday. The non-manufacturing sector’s Purchasing Managers Index (PMI), a key economic indicator, fell to 48.4 percent last month from 52.9 percent in January, the CFLP said. A PMI reading above 50 percent indicates expansion from the previous month, while a reading below 50 indicates contraction.
