Beijing, March 6: The National Bureau of Statistics of China and the China Federation of Logistics and Purchasing released data on Wednesday regarding the Purchasing Managers’ Index (PMI) for the manufacturing sector in February.
According to the data, manufacturing activities experienced a slight decline due to seasonal factors like the Spring Festival. However, positive trends continued. The manufacturing PMI for China stood at 49% in February, a decrease of 0.3% compared to the previous month.
High-tech manufacturing continued to expand rapidly. The PMI for high-tech manufacturing reached 51.5%, marking the 13th consecutive month of growth. The new orders index remained above 51%, while the production index exceeded 54%.
In the non-manufacturing sector, there was a modest increase in the business activity index. The non-manufacturing business activity index for China was 49.5% in February, which is 0.1% higher than the previous month.
The impact of the Spring Festival holidays led to a surge in travel and consumption-related sectors. The business activity index for accommodation and food services, as well as culture and entertainment, remained above 60%. The retail and air transport sectors saw their business activity indices rise to above 50% and 55%, respectively.
The monetary financial sector continued to provide robust support to the real economy. Its business activity index and new orders index have remained above 60% for three consecutive months.
(Source: China Media Group, Beijing)
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