National Bureau of Statistics: The manufacturing Purchasing Managers' Index in February fell slightly, while the non-manufacturing business activity index expanded at a faster pace.

On March 1st, Senior Statistician Zhao Qinghe from the National Bureau of Statistics Service Industry Survey Center interpreted the February 2024 China Purchasing Managers' Index. The manufacturing Purchasing Managers' Index in February fell slightly due to the influence of the Spring Festival holiday factors, as the manufacturing industry was in the traditional off-season for production. Additionally, with the steady transition of epidemic prevention and control after the Spring Festival, more employees returned to their hometowns, leading to significant impacts on enterprise production and operation. Overall, the market activity in the manufacturing industry decreased, with the Manufacturing PMI slightly dropping by 0.1 percentage points compared to the previous month. In February, the non-manufacturing business activity index was 51.4%, showing an increase of 0.7 percentage points from the previous month, indicating a continued acceleration in the expansion of the non-manufacturing sector. In February, the comprehensive PMI output index was 50.9%, remaining unchanged from the previous month, indicating that the overall production and operation activities of Chinese enterprises continued to expand. The original text is as follows: Affected by the Spring Festival holiday factors, the manufacturing Purchasing Managers' Index in February fell slightly, while the non-manufacturing business activity index accelerated its expansion. Senior Statistician Zhao Qinghe of the National Bureau of Statistics Service Industry Survey Center interprets the China Purchasing Managers' Index in February 2024 On March 1, 2024, the National Bureau of Statistics Service Industry Survey Center and the China Federation of Logistics and Purchasing jointly released the China Purchasing Managers' Index. Zhao Qinghe, the senior statistician of the National Bureau of Statistics Service Industry Investigation Center, interpreted the data. In February, the Manufacturing Purchasing Managers' Index was 49.1%, a decrease of 0.1 percentage points from the previous month; the non-manufacturing business activity index was 51.4%, an increase of 0.7 percentage points from the previous month; the comprehensive PMI output index was 50.9%, unchanged from the previous month, showing that China's economy continued to expand overall. I. Manufacturing Purchasing Managers' Index Slightly Declined In February, due to the impact of the Spring Festival holiday factors, the manufacturing industry was in the traditional off-season for production, coupled with the return of many employees to their hometowns after the stable transition of epidemic prevention and control. This had a significant impact on enterprise production and operation, resulting in an overall decrease in market activity in the manufacturing industry, with the manufacturing PMI down by 0.1 percentage points compared to the previous month.