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Chinese manufacturing: a tale of two PMIs

Manufacturing in China expanded by more than originally thought last month, according to a closely-watched index by HSBC and Markit.

The reading for February was 50.7, ahead of a preliminary estimate of 50.1 and up from 49.7 in January. Any score above 50 indicates expansion.

The reading signals a reversal of a two month decline, but taken as an indicator about the Chinese economy should be treated with a degree of caution.

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