HSBC China Composite PMI™ data (which covers both manufacturing and services) pointed to a further increase in Chinese business activity in February, thereby extending the current trend to 10 months. Though modest, the rate of expansion quickened to a five-month high, with the HSBC Composite Output Index posting at 51.8 in February, up from January’s recent low of 51.0. Stronger growth of total business activity was supported by faster increases in output across both the manufacturing and service sectors in February. Manufacturing output increased at the quickest rate since last August, while services activity growth ... (full story)