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Chinese Manufacturing Activity Expands Slowly

Mar 01, 2018

In the February, with the strong growth of High-tech industries, China's manufacturing growth slowed.

According to the National Bureau of Statistics Wednesday, the manufacturing Purchasing managers ' index was 50.3 this month, down from 51.3 in January.

More than 50 of readings indicate an expansion, while the following readings reflect contraction.

Zhaoqing, a senior statistician at the National Bureau of Statistics, said the decline was "normal volatility" as the Lunar New Year holiday index tended to fall.

The partial index of production and new orders fell to 50.7 and 51 respectively, while the sub-index of raw material inventory, employee and supplier delivery time was still below 50.

In spite of the slowdown, manufacturing PMI remained above 50 per cent in 1 September, partly underpinned by strong performance in emerging industries.

In February, the rapid expansion of High-tech manufacturing industry, Zhao said.

In February, the PMI for High-tech manufacturing was 54, compared with 53.2 in January, over 50.3 of the manufacturing sector.

Equipment manufacturing also expanded rapidly, with PMI at 51, up 50 from January.

Non-manufacturing growth slowed in 54.4 this month, from 55.3 in January.

Services accounted for more than half of GDP, and the reported expansion was modest, as the index fell from 54.4 to 53.8.

Retail, catering, railway, aviation, telecommunications, Internet and tourism increased consumption during the Spring Festival, with all business activity indices above 56.


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