💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

China's Feb service sector activity growth accelerates - official PMI

Published 02/28/2022, 08:53 PM
Updated 02/28/2022, 08:56 PM
© Reuters. Staff members set the tables before the Lunar New Year's Eve dinner service at The Red Chamber restaurant in Beijing, China January 31, 2022. REUTERS/Florence Lo

BEIJING(Reuters) - Activity in China's services sector grew at a faster pace in February, official data showed on Tuesday.

The official non-manufacturing Purchasing Managers' Index (PMI) was at 51.6 in February versus January's 51.1, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.

© Reuters. Staff members set the tables before the Lunar New Year's Eve dinner service at The Red Chamber restaurant in Beijing, China January 31, 2022. REUTERS/Florence Lo

While the world's second-largest economy rebounded last year from 2020's pandemic-induced slump, the services sector has lagged the recovery as China's tough zero-COVID approach has weighed on consumer spending.

China's official composite PMI, which includes both manufacturing and services activity, stood at 51.2, compared with 50.1 in January.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.