The February PMI falls to 48.3 (49.5 in January). Economic growth forecast of 7.4 , the lowest in the last 24 years.

Hong Kong (AsiaNews) - The manufacturing index in China fell to its lowest level in seven months, giving further signs of economic slowdown, adding to the risks of a financial system choked by heavy loans.

The unofficial PMI index ( Purchasing Manager's Index) for February provided by HSBC is 48.3, down from January figures for of 49.5. A value below 50 indicates contraction in the economy.

Today's figures contrast with the optimistic official import / export figures for the month of January, which showed a moderate growth.

The drop in industrial production puts new pressures on the government in Beijing to find new ways to support economic growth which for this year is forecast at around 7.4 , the lowest rate in the last 24 years.

The government of Xi Jinping is trying to keep economic growth above 7% , but must deal with the problems of overproduction, pollution, and with the risk of a financial bubble due to an increase in debt among Chinese provinces.

• CHINA
• economy
• growth
• PMI
• data