China's manufacturing PMI continues to fall in February

World
Europe

China's official manufacturing Purchasing Manager's Index (PMI) fell to 49.2 in February, narrowing from 49.5 last month, official data released Thursday.

The manufacturing PMI of large companies reached 51.1, up 0.2 percentage points than last month, while that of small and medium-sized companies came in at 45.3 and 46.9, respectively, China's National Bureau of Statistics (NBS) data showed.

From the perspective of industry, high-tech manufacturing industry took the lead with PMI reading 51.4, up 1.8 percentage points than January. Medicine manufacturing, computer communication, and electronic equipment manufacturing, among others, saw outstanding growth in PMI, according to Zhao Qinghe, a senior statistician from the NBS.

CGTN Photo

The reduction of factory activities affected by the Spring Festival partly attributed to the slowdown, Zhao added.

Driven by the price rise of major international commodities, raw material prices and factory gate prices registered 51.9 and 48.5, up 5.6 and 4.0 percentage points than last month, respectively.

Meanwhile, China's non-manufacturing PMI read 54.3 this month, easing in pace but within the expansion range.

The composite PMI, which covers both manufacturing and services activity, edged down 0.8 percentage points to 52.4 in February.

This is the third straight month that the PMI has fallen below 50. A reading above 50 signals expansion in the sector, while one below 50 indicates contraction on a monthly basis.