China’s Caixin services PMI for February stood at 51.5 points compared to 52.0 the previous month, which has shown that commercial activity has grown at the same time slowest pace in ten months.
The Composite production index has also fallen from 52.2 in January to 51.7 in February.
A employment sub-index stood at 47.9 points, falling in contraction after six months of growth.
Key Comments:
Activity growth in the services sector slows at least ten months.
Smoother rise in total new jobs amid further decline in export sales.
Confidence regarding the 12-month business outlook remains strong.
Commenting on the China General Services PMI ™ data, Caixin Insight Group Senior Economist Dr. Wang Zhe said: “The Caixin General Services Business Activity Index for China reached 51.5 in February, decreasing by third consecutive month and reaching the lowest point since April 2020, as the momentum of the post-pandemic recovery in the services sector weakened further. “
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