Business activity in the service sector of China grew in February at the slowest pace since October 2018

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The service sector of China in February showed the lowest growth rate of business activity since October 2018. According to Markit/Caixin, the PMI index was 51.1 points against 53.6 points a month earlier. The main negative factor affecting its dynamics was the slowdown in the growth of new orders to the lowest level since October 2018 due to the weakening of internal and external demand. The number of new export orders rose in February at the slowest pace in 5 months. Companies have created a small number of new jobs. The growth of their operating expenses was moderate. For 4 months, business activity in the manufacturing sector and the service sector grew at the slowest pace. The corresponding composite index was 50.7 points, down from 50.9 points in January.

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