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China manufacturing indicator hits 7-month low

Beijing, Feb 20 (EFE).- A key indicator of Chinese manufacturing activity fell to a seven-month low in February, HSBC bank said Thursday. The preliminary HSBC China Manufacturing Purchasing Managers' Index slipped to 48.3, down from 49.5 in January, according to the Hong Kong-based institution. A reading of below 50 indicates monthly contraction in that sector. HSBC compiles the Manufacturing PMI based on surveys of purchasing managers in the manufacturing sector and reports the reading just days before equivalent official Chinese data is released.

Eurozone business activity robust, slips off highs

Business activity in the 18-nation eurozone stayed robust in February but slipped off its highs, a reminder that the economic recovery remains fragile, a key survey showed on Thursday. Markit Economics' said its Eurozone Composite Purchasing Managers Index (PMI) for February fell to 52.7 points in February from 52.9 in January. Analysts polled by Dow Jones Newswires had expected this leading indicator to give a reading of 53 points. Despite the fall, the reading remained above the 50-points growth-downturn line for an eighth month running, Market said.

Service firms drive strong growth in German private sector

BERLIN (Reuters) - Stronger-than-expected growth among service providers drove a faster expansion in Germany's private sector in February, a survey showed, in a sign Europe's largest economy is gaining momentum and continues to drive a regional recovery. Markit's preliminary composite Purchasing Managers' Index (PMI), which tracks activity in the manufacturing and services sectors and covers more than two-thirds of the economy, rose to 56.1 in February, up from January's 55.5.

China February flash PMI hits seven-month low, spooks markets

By Adam Rose BEIJING (Reuters) - Activity in China's factories shrank again in February, a preliminary private survey found on Thursday, reinforcing concerns of a minor slowdown in the economy and spooking markets across the region. The flash Markit/HSBC Purchasing Managers' Index (PMI) fell to a seven-month low of 48.3 in February from January's final reading of 49.5, where a reading below 50 indicates a contraction while one above shows expansion.

US services sector growth picked up in January

Economic activity in the vast US services sector picked up in January, with companies reporting better business conditions and adding jobs, the Institute for Supply Management said Wednesday. The ISM's purchasing managers index for the non-manufacturing sector advanced to 54.0 in January, a full point higher than December's 53.0 reading, and rebounding from two consecutive declines.

Eurozone business activity best since June 2011

Eurozone private sector business activity in January showed the best performance since June 2011, fresh evidence that a modest recovery is gaining traction, a key survey showed on Wednesday. Markit Economics said its Eurozone Composite Purchasing Managers Index (PMI) for January rose to 52.9 points from 52.1 in December, the seventh monthly rise in a row. While this was down from the initial January reading of 53.2, it still represented the fastest rate of growth since June 2011, Markit said.

Oil drops after tepid US, Chinese manufacturing data

Oil prices slid Monday after weak manufacturing data in the United States and China fueled worries about demand in the world's two biggest oil consumers. New York's main contract, West Texas Intermediate (WTI) for delivery in March, ended the trading session at $96.43 a barrel, down $1.06 from Friday's close. The European benchmark, Brent North Sea crude for March, shed 36 cents to settle at $106.04 a barrel in London trade.

China, U.S. drag on global manufacturing revival

By Jonathan Cable and Steven C. Johnson LONDON/NEW YORK (Reuters) - Slower growth in the Chinese and U.S. factory sectors raised worries about global growth on Monday, even though European manufacturers enjoyed a solid start to the year. Data showed growth in China's manufacturing sector slowed to a six-month low, while its service sector grew at its slowest pace in five years.

Oil prices retreat on Chinese data

Oil prices slid on Monday as data showing weak manufacturing activity in China fuelled concerns over energy demand in the world's second largest economy, analysts said. New York's main contract, West Texas Intermediate for delivery in March, dropped 95 cents to $96.54 a barrel. Brent North Sea crude for March shed 79 cents to stand at $105.61 a barrel in late London deals. "Commodity prices are currently under pressure due to weaker-than-expected data on Chinese manufacturing activity," Desmond Chua, analyst at traders CMC Markets, told AFP.

Canadian manufacturing index indicates slower pace of growth for sector: RBC

TORONTO - Growth in the Canadian manufacturing sector continued, but slowed in January, according to the Royal Bank's latest monthly purchasing managers index. The January RBC PMI reading was 51.7 on a seasonally adjusted basis, down from 53.5 in December. The index is intended as an indicator of trends in the manufacturing sector. A reading above 50 indicates expansion. All five of the index components fell in January from December, but the bank noted the decline was smaller than between November and December, when the index dropped two full points.
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