$CapLand China T (AU8U.SG)$ China’s manufacturing activity c...
China’s manufacturing activity contracted for a fifth straight month in February, official figures on Friday showed, which were at odds with a private survey that signaled factory activity expanded.
Data from China’s National Bureau of Statistics showed manufacturing PMI fell to 49.1 in February from 49.2 in January. The reading was in line with a Reuters poll estimate.
The Caixin/S&P Global manufacturing PMI, however, edged up to 50.9 in February from 50.8 in the previous month.
A PMI reading above 50 indicates expansion, while below that denotes a contraction.
“Companies noted further upturns in both production and new work, with rates of growth quickening slightly from January, helped in part by a rise in new export orders,” the private Caixin survey read.
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