[size=36]Chinese factory activity shrinks in February to its lowest level in 3 years[/size]
10:23 - 28/02/2019
Follow - up - News balances
contracted factories activities in China to its lowest level in three years in February , with export orders falling at the fastest pace since the global financial crisis, which highlights the problems facing the Chinese economy due to weak demand at home and abroad.
These negative indicators are likely to reinforce the view that the world's second largest economy continues to lose momentum after last year's growth slowed to a 30-year low.
Despite the government's increased stimulus for economic activity, fears are growing that China will face a more severe slowdown if its trade talks with the United States do not ease the pressure.
Data released by the National Bureau of Statistics showed on Thursday that the official purchasing managers' index fell to 49.2 in February from 49.5 in January, indicating contraction of activity for the third straight month. The 50-point level separates growth from contraction.
Analysts polled by Reuters had expected the manufacturing sector to stabilize unchanged from the January reading. Chinese factory activities have been generally choppy since May.
Production in the manufacturing sector shrank in February for the first time since January 2009 at the height of the global crisis. The results of the survey showed that the sub-index of production fell to 49.5 from 50.9 in the previous month.
New export orders for the ninth consecutive month contracted at a higher pace, the latest sign of continued global demand decline. The sub-index fell to 45.2, its lowest level since February 2009, from 46.9 in January.
However, the total new orders, an indicator of future activities, have returned to growth, indicating some improvement in domestic demand. The sub-index rose to 50.6 from 49.6 in January after falling for two straight months.
China's service sector slowed in February after recovering for two consecutive months, analysts said on Thursday, and analysts expected further weakness this year as the economy slowed, making consumers more cautious about spending.
The official non-manufacturing PMI fell to 54.3 in February, from 54.7 in January, but remains above the 50-point level between growth and contraction.
The fast-growing services sector accounts for more than half of the Chinese economy and has helped to slow the impact of the slowdown in the manufacturing sector.
The composite PMI, covering the manufacturing and services sectors, fell to 52.4 from 53.2 in January.
contracted factories activities in China to its lowest level in three years in February , with export orders falling at the fastest pace since the global financial crisis, which highlights the problems facing the Chinese economy due to weak demand at home and abroad.
These negative indicators are likely to reinforce the view that the world's second largest economy continues to lose momentum after last year's growth slowed to a 30-year low.
Despite the government's increased stimulus for economic activity, fears are growing that China will face a more severe slowdown if its trade talks with the United States do not ease the pressure.
Data released by the National Bureau of Statistics showed on Thursday that the official purchasing managers' index fell to 49.2 in February from 49.5 in January, indicating contraction of activity for the third straight month. The 50-point level separates growth from contraction.
Analysts polled by Reuters had expected the manufacturing sector to stabilize unchanged from the January reading. Chinese factory activities have been generally choppy since May.
Production in the manufacturing sector shrank in February for the first time since January 2009 at the height of the global crisis. The results of the survey showed that the sub-index of production fell to 49.5 from 50.9 in the previous month.
New export orders for the ninth consecutive month contracted at a higher pace, the latest sign of continued global demand decline. The sub-index fell to 45.2, its lowest level since February 2009, from 46.9 in January.
However, the total new orders, an indicator of future activities, have returned to growth, indicating some improvement in domestic demand. The sub-index rose to 50.6 from 49.6 in January after falling for two straight months.
China's service sector slowed in February after recovering for two consecutive months, analysts said on Thursday, and analysts expected further weakness this year as the economy slowed, making consumers more cautious about spending.
The official non-manufacturing PMI fell to 54.3 in February, from 54.7 in January, but remains above the 50-point level between growth and contraction.
The fast-growing services sector accounts for more than half of the Chinese economy and has helped to slow the impact of the slowdown in the manufacturing sector.
The composite PMI, covering the manufacturing and services sectors, fell to 52.4 from 53.2 in January.
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