Chinese business sentiment declined again in February, setting a downbeat tone for 2016 as production fell to its lowest level in two years.
The MNI China Business Indicator fell to 49.9 in February from 52.3 in January – below the 50 threshold needed to indicate optimists outnumber pessimists.
The survey, which questions 200 companies listed on the Shanghai and Shenzhen stock exchanges, said production fell to the extent that it wiped out a small gain made last month, and was at the lowest level since February 2014. New orders were at their lowest since August 2012.
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