MNI BRIEF: China Feb Manufacturing PMI Stays In Contraction
Mar-04 02:10
China+ 1
China's Manufacturing Purchasing Managers Index dropped by 0.3 points to 49.0 in February from January, remaining below the breakeven 50 mark for the second month, as a longer-than-usual Spring Festival holiday affected production, data from the National Bureau of Statistics showed on Wednesday.
The production and new orders sub-indexes dropped by 1.0 and 0.6 points to 49.6 and 48.6, respectively.
The non-manufacturing PMI registered 49.5, up 0.1 points from the previous month. The business activity sub-index for the service sector increased by 0.2 points to 49.7 while that of the construction industry dropped 0.6 points to 48.2 due to the suspension of construction on some projects during the holiday.
