PMI contracts as seventh successive month
PMI contracts as seventh successive month
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China’s PMI(Purchasing Manager’s Index) which hit the trend of Industrial activity, displayed the secondary sector declined in February for the seventh successive month.

On Tuesday, the data issued from China’s National Bureau of Statistics(NSB) showed that the PMI for the non-manufacturing  sector came in at 52.7 in February .

Xinhua news agency reported that it gone down from 53.5 in January. A reading over 50 pinpoints expansion ,other a reading below 50 shows contraction.

Zhao Qinghe(NBS statistician)  said, “Businesses related to retail, travel, post and catering services expanded in February, thanks to the Chinese New Year holidays in early February.

The sub-index for fresh orders resolved at 48.7,down 0.9 points from previous month, showing shrinking demand in the non-manufacturing sector.The non-manufacturing PMI tracks business exercise of both the service sector & construction industry.

Tags: PMI, CHINA,
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