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MNI BRIEF: China Feb Mfg. PMI Contracts Further On Holiday

MNI (Singapore)
MNI (Beijing)

China's manufacturing Purchasing Managers' Index declined by 0.1 points to 49.1 in February, remaining in the contractionary zone below the breakeven 50 mark for the fifth month, amid the traditional off-season due to Chinese New Year holiday, data from the National Bureau of Statistics showed Friday.

The production sub-index decelerated by 1.5 points to 49.8 from the previous month, while the new orders sub-index remained flat at 49.0. External demand weakened with the new export orders sub-index dropping by 0.9 points to 46.3.

Non-manufacturing PMI registered 51.4, rising from last month's 50.7. The business activity index in the service sector increased by 0.9 points to 51.0 as the Chinese New Year holiday helped boost travel and spending, the NBS said.

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