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China's service PMI 51.2, Composite PMI 49.4 in Feb.

CCTV.com

03-03-2016 12:44 BJT

China’s services expansion slowed in February. The Caixin/Markit Purchase Managers’ Index for services came in at 51.2.

That is still above the 50 line separating growth from contraction but below January’s 52.4. The composite PMI, which includes manufacturing and services, is 49.4, below the 50 line and January’s 50.1. That indicates China’s economy still faces downward pressure.

The manufacturing PMI for February was 48. He Fan, chief economist at Caixin, says services grow better than manufacturing as China’s economic transformation is taking place. He suggests the government promote supply-side reforms and unleash the potential of the service sector.

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