China Economic Daily Brief - June 14, 2024

CNBF Daily Brief 1.3.2023

In China Business News by China Business Forum1 Comment

The purchasing managers' index (PMI) for China's manufacturing sector came in at 52.6 in February, up from 50.1 in January, according to data from the National Bureau of Statistics. A reading above 50 indicates expansion, while a reading below reflects contraction.

The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 56.3 in February, up from 54.4 in January. The service sector maintained expansion in February thanks to accelerated business recovery after the Spring Festival, with the sub-index for business activities reaching 55.6, up from 54 in January.

The sub-indexes for business activities in road and air transport, postal service and accommodation all stood above 60, indicating active market activities and rising business volume.

The sub-index of the construction sector stood at 60.2 in February, up from 56.4 in January, as work resumption in construction projects nationwide began last month. Demand in the non-manufacturing market also recovered, with the sub-index for new orders rising 3.3% points from January to 55.8 in February.

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