A leading indicator of China's economic activity rose at a slower pace in February, suggesting that the economy is unlikely to saw a stronger growth rate in the coming months.
The Conference Board said that its leading economic index (LEI) for China increased 0.8 percent in February to 227.2, following a 1.5 percent increase in January and a 0.8 percent increase in December. Four of the six components contributed positively to the index in February.
"The LEI for China continued to increase through February, but the pace of the six-month growth rate remains slower than that reached in mid-2011," Conference Board's Resident China Economist Andrew Polk said.
"Hence while the economy continues to expand, it is unlikely to strengthen any further in the coming months. In particular, the momentum in consumer expectations slowed this month, and new loans remain distinctly subdued compared to last year," Polk said.
The coincident economic index, which measures current economic activity, increased 4.1 percent in February to 220, following a revised 2 percent decrease in January and a 1 percent increase in December. All five components contributed positively to the index.
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