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China’s manufacturing activities declined in February 2021China’s manufacturing activities declined in February 2021 |
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China’s official manufacturing purchasing managers’ index (PMI) fell to 50.6 in February 2021 from 51.3 in January as a result of slower economic activities during the Lunar New Year holiday. This is the lowest growth rate in nine months, but still above the 50 threshold that separates expansion from contraction.
Meanwhile, within the non-manufacturing PMI, the sub-index for the construction sector dropped to 54.7 in February from 60.0 a month earlier. Sub-index for the service sector business activities fell to 50.8, down from 51.1 in January.
Although the holiday plays a part in the weaker PMI data, industry experts believed that lower overseas demand and a flare-up of COVID-19 cases that affected the service sector also contributed to the development.
Country
China
