Caixin China Manufacturing PMI arrived at 50.9 vs 51.5 in January

China Caixin/IHS Markit February manufacturing PMI arrived at 50.9 vs 51.5 in January.

AUD/USD is stable on the data. 

Reuters explained ''China's factory activity expanded at the slowest pace in nine months in February as weak overseas demand and coronavirus flare-ups weighed on output, adding pressure on the country's labour market, a business survey showed on Monday.''

''The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery in China, although domestic COVID-19 cases have since been stamped out and analysts expect a strong rebound in full-year growth.''

Description of the Caixin China Manufacturing PMI

The Caixin China Manufacturing PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.