China's manufacturing measure shows contraction for February

Staff Writer
Columbus CEO

BEIJING (AP) — An index that measures China's manufacturing activity went up slightly in February but still shows contraction amid China's economy slowdown.

China Federation of Logistics and Purchasing released the latest official data on Sunday, showing the monthly purchasing managers' index up to 49.9 from the previous month's 49.8.

The index uses a 100-point scale on which numbers below 50 show activity contracting. February's reading meant activity contracted from the previous month.

China's economy, the world's second largest, grew 7.4 percent last year, its slowest expansion in nearly a quarter century.

Its central bank cut interest rates for the second time in three months Saturday, adding to signs that the country's leaders are worried the economic slowdown might be deepening too sharply.