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CN Feb Official Mfg PMI Drifts Lower to 49, vs 49.1 in Consensus
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The seasonally-adjusted Manufacturing Purchasing Managers' Index (PMI) of China for February sank to 49, below the street consensus of 49.1, continuing a decline of 0.3 ppts MoM, marking a two-month consecutive downfall, indicating a retreat in the manufacturing sector's prosperity level, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing announced. By enterprise size, the PMI for large enterprises came in at 51.5, rising by 1.2 ppts MoM, above the critical point; the PMI for medium and small enterprises were 47.5 and 44.8, respectively, down 1.2 and 2.6 ppts MoM, below the critical point. From the perspective of sub-indices, all five sub-indices constituting the manufacturing PMI, namely the production index, new orders index, raw material inventory index, employment index, and supplier delivery time index, were below the critical point. AASTOCKS Financial News Website: www.aastocks.com |
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