By Joe Cash
BEIJING (Reuters) – China’s manufacturing activity likely contracted for a fifth straight month in February, a Reuters poll showed on Thursday, possibly increasing the clamour for further stimulus measures as factory owners struggle for orders both at home and abroad.
The official purchasing managers’ index (PMI) likely fell to 49.1 in February from January’s 49.2, according to the median forecast of 33 economists in the poll. The 50-point mark separates growth from contraction.
Economists appear in agreement that the economy is still largely struggling for traction despite some signs of green shoots in December’s trade data and new bank loans hitting an all-time high in January, with the highest forecast a lone 50.0.
China’s disappointing post-COVID recovery has raised doubts about the foundations of its economic model and stoked expectations policymakers will need to consider reforms, as consumers hold off spending,…
