Official data: China’s factory activities continued to contract in February
On the other hand, the non-manufacturing index which measures the activities in the service and construction sectors climbed to 51.4 in February from 50.7 in January
According to the latest data from the National Bureau of Statistics, China’s manufacturing activities shrank for the fifth consecutive month in February, sapped by the Lunar New Year holiday and falling external demand.
The official manufacturing purchasing managers’ index (PMI) fell to 49.1 in February from 49.2 a month earlier. However, industry experts said the figure might not be a reliable gauge of the economic condition due to the long Spring break.
The new order sub-index was unchanged at 49 points during the reported month while the new export order index fell to 46.3 from 47.2 points in January.
On the other hand, the non-manufacturing index which measures the activities in the service and construction sectors climbed to 51.4 in February from 50.7 in January thanks to the booming travel and dining during the holiday.