(HIS Markit) China’s Business Activity Index was recorded at 50.2 in February, a decline from 51.4 in January, marking the softest expansion since September.
The slowdown in the service activity in China in February was attributed to the ongoing pandemic and related restrictions, which saw the new export businesses fall.
Cost pressures fell, with input and output costs rising at a slower pace compared to January. The input cost increases were the softest since August, while a rise in competition saw firms’ pricing power limited, leading to slower hikes of outputs.
Employment fell slightly for the second straight month, while backlogs of work rose only marginally.
Business optimism over the next twelve months improved to the highest in three months, with service businesses projecting a rise in customer demand and new product launches as the economy escapes the pandemic.
CSI 300 is down -0.59%, USDCNY is down -0.03%.
