China's manufacturing sector slows down in February

0 Comment(s)Print E-mail Xinhua, February 28, 2019
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A worker is seen at a workshop of a spinning factory in Xingtai City, north China's Hebei Province, Dec. 20, 2018. [Photo/Xinhua]

China's manufacturing sector expanded at a slower pace in February, official data showed Thursday.

The country's manufacturing purchasing managers' index (PMI) came in at 49.2 in February, narrowing from 49.5 in January, according to the National Bureau of Statistics (NBS).

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

NBS senior statistician Zhao Qinghe attributed the monthly decline in the manufacturing PMI to seasonal factors including production halts around the Chinese Lunar New Year.

The sub-index for production, a major factor used in calculating PMI, edged down 1.4 percentage points to 49.5 in February.

While the production temporarily weakened, market demand has displayed growing momentum with the sub-index for new orders rising to 50.6, an indication of expansion.

NBS data also pointed to the upbeat mood among enterprises, with a four-month high reading of the production and operation expectations index of 56.2, a marked rise of 3.7 percentage points from January.

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