China's factory activity slows for 5th mth as weak demand hampers growth

China's factory activity continued its decline China for the fifth consecutive month in February, underscoring persisting challenges posed by weak demand in the economy.

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According to a statement released by the National Bureau of Statistics on Friday, the official manufacturing Purchasing Managers' Index (PMI) for last month dipped slightly to 49.1. This figure fell slightly below the median forecast of 49.0 predicted by economists surveyed by Bloomberg News and was marginally lower than January's reading of 49.2.

In contrast, a measure of non-manufacturing activity showed improvement, with a rise to 51.4 compared to the estimated 50.7. This uptick was attributed to increased activity in travel and tourism during a recent extended holiday period. Any reading above 50 indicates expansion from the previous month, while a figure below that signifies contraction.