China’s non-manufacturing sector slows

March 3rd, 2012 - 1:52 pm ICT by IANS  

Beijing, March 3 (IANS) Business activities in China’s non-manufacturing sector slowed sharply in February on waning market demands after the Spring Festival, a federation said Saturday.

The non-manufacturing sector’s Purchasing Managers Index (PMI), a key economic indicator, fell to 48.4 percent from 52.9 percent from January, the China Federation of Logistics and Purchasing said.

A PMI reading above 50 percent indicates expansion from the previous month, while below it indicates contraction, reported Xinhua.

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