Business confidence in China's manufacturing industry falls below 50, a milestone for economic judgment, for 5 consecutive months. China's National Bureau of Statistics surveyed 3,200 manufacturing companies for February's Manufacturing PMI (Purchasing Managers' Business Confidence Index), which was 49.1.
On the other hand, the business confidence index for non-manufacturing industries such as the service industry improved by 0.7 points from the previous month to 51.4, due to increased demand for travel and food and beverages.