China factory activity contract for February

China's factory activity contracted for a fifth consecutive month in February, while non-manufacturing activities expanded at a faster pace, an official survey showed on 1st of March.

China's official purchasing managers index for the manufacturing sector fell to 49.1 in February from 49.2 in January, according to the National Bureau of Statistics, below the 50-point mark that separates contraction from growth.

The sub-index for production declined to 49.8 in February from 51.3 in January, while the gauge for new orders came in at 49 in February, the same as January, the NBS said.

Zhao Qinghe, an NBS statistician, said manufacturers expressed optimism and confidence with the gauge for manufacturers' expectations for their production and operation improving to 54.2 in February from 54 in January.

China's non-manufacturing PMI came in at 51.4 in February, up from 50.7 a month earlier. Also, the country's official composite PMI, which includes both manufacturing and non-manufacturing activities, came in at 50.9 in February, the same as January, according to the NBS.

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