China’s PMI February 2024

China's National Bureau of Statistics confirmed the data for February of the composite Purchasing Managers' Index (PMI), which includes both manufacturing and non-manufacturing activities, remains in line with the previous month at 50.9, above the 50-point threshold that separates growth from contraction.

China's official manufacturing PMI index fell to 49.1 in February, marking its fifth consecutive month of contraction, from January's 49.2 reading.  As for the non-manufacturing sector, which has been supporting the economic recovery so far, it came in at 51.4 in February, up from 50.7 in January.

Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.