While exports demand was falling, China’s manufacturing business activity in February increased, a financial resource informs.
Manufacturing PMI published by the National Bureau of Statistics advanced to 49.9 in February. In January, the index made up 49.8 remaining in the negative territory.
Earlier, the indicator was falling for three straight months. However, the February reading turned out to be better than the average forecast of economists.
Meanwhile, HSBC/Markit Purchasing Managers' Index rose to 50.7 in February. In January, the figure was 49.7, and the flash estimate made up 50.1.
In January, in 70 largest cities of China new housing prices plummeted by 5.1% year-on-year and by 0.4% compared with December. This was the biggest fall in new housing prices. Housing prices in China are declining for 9 months in a row.
Consumer prices will increase by 1.8% and the country’s GDP will grew by 7.1% for the current year, according to Lu Lei, head of the People's Bank of China's research department.
It is noteworthy that in 2014 the country’s GDP added only 7.4%, which was the weakest growth since 1990. Experts suppose that China’s authorities will place the target GDP growth rate in 2015 at the level of 7%.
