China's non-manufacturing PMI up in February

(Xinhua) 13:57, March 01, 2024

BEIJING, March 1 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 51.4 in February, up from 50.7 in January, the National Bureau of Statistics said Friday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The sub-index for the service sector stood at 51 in February, up 0.9 percentage points from the previous month.

Industries closely related to travel and consumption during the Spring Festival holiday were brisker last month, said senior NBS statistician Zhao Qinghe.

Zhao said the sub-indices of retail sales, rail transport, road transport, catering, ecological protection and the management of public facilities all stood above 53, while that of air transport, monetary and financial services, and culture, sports and entertainment all stood above 60.

Enterprises anticipate services activities to pick up, with the sub-index for business expectations standing at 58.1, down 1.2 percentage points from the previous month. This highlights the unwavering confidence that enterprises have for the future development of the sector.

The construction sector maintained expansion this month, with its sub-index for business activities standing at 53.5 despite the effect of the holiday, as well as low temperatures, rain and snow.

The sub-index measuring expectations for activities in the construction sector came in at 55.7, indicating optimism among construction enterprises.

(Web editor: Zhang Kaiwei, Liang Jun)


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