China’s manufacturing PMI edges down to 50.6 in February

An employee works on the production line of a heavy machinery manufacturing firm in Suining, Sichuan province. (LIU CHANGSONG / FOR CHINA DAILY)

BEIJING – The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.6 in February, edging down from 51.3 in January, data from the National Bureau of Statistics (NBS) showed Sunday.

A reading above 50 indicates expansion, while a reading below reflects contraction. The PMI remained in expansion zone for the 12th consecutive month.

A reading above 50 indicates expansion, while a reading below reflects contraction. The PMI remained in expansion zone for the 12th consecutive month

The slowdown came as factory activity slackened during the Spring Festival holiday, which fell in February this year, according to the NBS.

The sub-index for production stood at 51.9 in February, retreating 1.6 percentage points from a month earlier, while that for new orders dropped 0.8 percentage points to 51.5.

The new export order and import sub-indexes edged down to 48.8 and 49.6, respectively.

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Sunday's data also showed that the PMI for China's non-manufacturing sector came in at 51.4 in February, down from 52.4 in January.

In February, the sub-index for business activities in the services sector stood at 50.8, dropping from 51.1 in January. This indicated China's services sector continued to expand, yet at a slower pace, said Zhao Qinghe, senior statistician at NBS, while analyzing the February reading.

In breakdown, consumption-related segments such as retail sales, catering and entertainment logged increases in business activities, Zhao said.

The sub-indexes for business activities in telecommunications and satellite transmission as well as financial services came in at above 58, indicating steady growth of business volume in these areas, according to Zhao.

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