Industrial production growth in China was again lower in the past month than in the previous month.
This is evident from the purchasing managers index (PMI) for February, published on Sunday, a first indicator of economic recovery.
According to the National Bureau of Statistics for China (NBS), the PMI fell from 51.3 to 50.6.
This puts the PMI in China at its lowest level since May 2020. Moreover, the increase in industrial activity lagged behind analysts' expectations, who had expected a decline to 51.1.
With a PMI score of 50, the situation is unchanged.
Below 50, the score indicates a negative trend in economic growth and a decline in confidence.
Although activity in the services sector increased for the eleventh month in a row in February, growth was weaker than in January.
While concerns about an increase in the number of corona infections in China still acted as a brake on economic activity in January, this was mainly the celebration of the Chinese New Year last month.
During the holidays, many hundreds of millions of people visit their native region, which puts economic activity on the back burner.
Partly due to the continuing uncertainty in the world about the duration and severity of the corona crisis, China may not communicate growth expectations for this year, policymakers previously told Reuters.