China's factory activity expands at a slower pace in February -official PMI

China's factory activity expanded in February at a slower pace than a month earlier, missing market expectations after brief COVID-19-related disruptions earlier in the year. The industrial sector's recovery has been driven by strong exports and government stimulus. China's economy grew just 2.3% last year.

Reuters | Beijing | Updated: 28-02-2021 12:40 IST | Created: 28-02-2021 12:40 IST
China's factory activity expands at a slower pace in February -official PMI

China's factory activity expanded in February at a slower pace than a month earlier, missing market expectations after brief COVID-19-related disruptions earlier in the year. The official manufacturing Purchasing Manager's Index (PMI) fell to 50.6 from 51.3 in January, data from the National Bureau of Statistics (NBS) showed on Sunday, remaining above the 50-point mark that separates growth from contraction.

Analysts had expected it to decline to 51.1. The industrial sector's recovery has been driven by strong exports and government stimulus.

China's economy grew just 2.3% last year.

Also Read: China refused to provide WHO team with raw data on early COVID cases, team member says

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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