BEIJING — China’s manufacturing sector expanded at a slower pace in February, official data showed on Feb 28.
The country’s manufacturing purchasing managers’ index came in at 50.3 this month, decelerating from 51.3 in January, according to the National Bureau of Statistics (NBS). A reading above 50 indicates expansion, while a reading below reflects contraction.
Despite the slowdown, the manufacturing PMI has stayed above the boom-bust line for 19 straight months.
NBS senior statistician Zhao Qinghe described the decline of the manufacturing PMI as “normal fluctuation” as the index tends to fall in the month of the Spring Festival holiday.
Sub-indices for production and new orders went down slightly to 50.7 and 51, respectively, while sub-indices on raw material stock, employees and suppliers’ delivery time were still lower than 50.