China's Manufacturing Sector Contracts for Fifth Consecutive Month
As China's manufacturing sector continues to shrink, policymakers are under increased pressure to implement further stimulus measures ahead of key legislative meetings.
- China's official manufacturing PMI fell to 49.1 in February, marking the fifth consecutive month of contraction.
- Despite policy support, the manufacturing sector's persistent weakness signals challenges ahead of China's National People's Congress.
- Non-manufacturing sectors, including services and construction, show signs of strength, contrasting with manufacturing's decline.
- Mixed signals from different PMI surveys highlight an uneven economic recovery, with some areas showing expansion.
- Policymakers are expected to focus on fiscal measures to boost the economy, with high anticipation for the upcoming legislative session's outcomes.
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