China's non-manufacturing PMI at 50.4 in February

The purchasing managers' index for China's non-manufacturing sector came in at 50.4 in February, up 0.2 percentage points from the previous month and remaining in expansion territory, official data showed Saturday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

According to the National Bureau of Statistics, the sub-index for the service sector stood at 50.0 in February, down 0.3 percentage points from the previous month.

Business activity indices in sectors related to consumer spending, such as retail, accommodation, and catering, significantly declined in February, influenced by factors such as intensive purchasing ahead of the Spring Festival holiday and the waning holiday effects during the post-holiday period, NBS statistician Zhao Qinghe said.

Meanwhile, business activity indices in sectors such as air transport, postal services, telecommunications, radio, television, satellite transmission services, monetary and financial services, and capital market services remained above 55 in February – indicating robust growth in overall business volume.

In February, the construction sub-index came in at 52.7, an increase of 3.4 percentage points from the previous month, according to NBS data.

Saturday's data also revealed that the country's manufacturing PMI came in at 50.2 in February, up 1.1 percentage points from the previous month.