NBS: China’s Feb manufacturing PMI inches down to 50.6
Mar 01, 2021 13:30
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry slid for the third month in February, easing by 0.7 basis point on month to 50.6, with the country’s National Bureau of Statistics (NBS) attributing the on-month decline mainly to the Chinese New Year (CNY) holiday over February 11-17. Despite the dip, the national PMI has nonetheless remained in the expansion zone for the twelfth month, according to Bureau’s latest release on February 28.
“Market activity softened during the CNY holiday, thus the pace of expansion in the manufacturing sector slowed down,”NBS senior statistician Zhao Qinghe highlighted in his latest analysis.
In February, the recovery of supply and demand eased, as the index for production among Chinese manufacturersfell 1.6 basis points on month to 51.9,