China’s non‑manufacturing purchasing managers’ index (PMI), a key indicator of business activity in services and other non‑factory sectors, registered 49.5 in February, official data showed Wednesday, indicating continued contraction in the sector. A reading below 50 points to contraction, although the figure marked a slight improvement from January.
The National Bureau of Statistics (NBS) said the modest rise of 0.1 percentage point reflected a slight improvement in business sentiment, but overall activity in the non‑manufacturing sector remained below the expansion threshold.
The services sub‑index, covering industries such as accommodation, catering, culture and entertainment, stood at 49.7, up 0.2 points from January. Though still below 50, the figure indicates a modest uptick in sector vitality following the Spring Festival holiday, which boosted activity in several segments.
Strong readings above 60 were recorded in certain festival‑related industries, including accommodation, catering and sports, underscoring uneven performance across non‑manufacturing categories.
However, some segments lagged behind, with capital market services and real estate displaying weaker PMI readings, suggesting persistent challenges in those areas.
In contrast, China’s manufacturing PMI, a key gauge of factory activity, remained in contraction at 49.0 in February, down 0.3 points from January, indicating continued weakness in the industrial sector.
The data come as China’s economy navigates mixed signals, with consumer price increases and narrowing producer price declines pointing to shifting price pressures and evolving demand conditions. Official figures released separately show China’s consumer price index (CPI) rose and producer prices continued recent improving trends, reflecting broader macroeconomic dynamics.
Originally Published By: Dawn
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