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CN Construction Business Activity Index Falls to 48.2, Auto Mkt Activity Weakens: NBS
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Huo Lihui, Chief Statistician of the Service Industry Survey Center at China's National Bureau of Statistics (NBS), explained China's Purchasing Managers' Index (PMI) for February. Since this year's Spring Festival holiday was extended and fell entirely in mid to late February, business operations were affected, leading to a general decline in manufacturing market activity. Both supply and demand slowed down. Specifically, the production and new order indices for the automotive industry continued to fall below the threshold, indicating weak market activity. Meanwhile, as employees returned home for the Spring Festival holiday and some construction projects were halted, China's construction business activity index ebbed to 48.2, 0.6 ppts lower than the previous month, indicating a continued decline in the construction industry's prosperity level. AAStocks Financial News |
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