China’s factory activity shrinks for fifth month

The official manufacturing purchasing managers’ index fell to 49.1 in February from 49.2 in January. — Reuters

CHINA’S manufacturing activity in February contracted for a fifth straight month, an official factory survey showed yesterday, raising the pressure on policymakers to roll out further stimulus measures as factory owners struggle for orders.

The official manufacturing purchasing managers’ index (PMI), complied by the National Bureau of Statistics (NBS), fell to 49.1 in February from 49.2 in January, below the 50-mark separating growth from contraction and in line with a median forecast of 49.1 in a Reuters poll.