Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  April 03, 2013 09:40:53

China - PMI in the manufacturing and service sector grew in February

Chinese Statistical Office announced yesterday that manufacturing sector activity grew again in February. Index of purchasing managers in the non-manufacturing sector rose to 55.6 points compared to 54.5 points in January.

PMI for the services sector compiled HSBC / Markit rose from 52.1 in January to 54.3 points.

The service sector accounts for 45% of total GDP formation. For comparison, in 2003 it was 41% in the U.S. services generate a full 90% of GDP. The Chinese government wants to 2015 the proportion increased to 47%.

PMI in manufacturing grew in March, according to government statistics, the 11-month maximum at 50.9 points. The market, however, expected to grow to 51.2 points. According to the HSBC / Markit PMI rose from 50.4 in February to 51.6 points.

Non-manufacturing sector activity growth is a good prerequisite for continued expansion throughout the economy.

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