China - HSBC/Markit Services PMI for February: 52.0 (prior was 51.8)

China HSBC/Markit Services PMI for February: 52.0

• prior was 51.8

And ...

China HSBC/Markit Composite PMI for February, 51.8

• prior was 51.0

Key points

• Manufacturers and service providers both see stronger expansions of business activity and new orders
• Job creation slows at service providers, while manufacturers cut staff numbers fractionally
• Sharp decline in input prices in manufacturing sector contrasts with solid increase in service sector cost burdens

Comments from Annabel Fiddes, Economist at Markit:

• "The latest PMI data signalled that China's service sector remained in expansionary territory in February, though the rate of growth remained modest.
• However, the solid rise in new orders suggests that activity growth may pick up in the months ahead, as firms continued to add to their payroll numbers amid a positive business outlook.
• Meanwhile, the renewed improvement in manufacturing operating conditions suggests that the Chinese economy is on a steadier growth footing in February."

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Earlier:

• China - HSBC/Markit Manufacturing PMI for February: 50.7 (flash was 50.1)
• China - Official February PMI - Manufacturing 49.9 (expected 49.7), Non-manufacturing 53.9