Mar. 5, 2012 (China Knowledge) - China
's non-manufacturing purchasing managers' index (PMI), a major indicator of the strength of the non-manufacturing sector, dropped to 48.4 in February this year, down 4.5 points from January, according to figures released by the China
Federation of Logistics and Purchasing (CFLP).
A reading on index above 50 indicates expansion, while the index below 50 indicates contraction.
The new order index decreased 2.4 points from January to 46.1 last month. The new order index in real estate sector was 40.5, while in construction sector increased 17.4 points to 49.5.
The new export order index went down 0.1 point from January to 45.7 in February. The new export order index was 48.8 in construction sector, 45.3 in production service sector and 45.2 in consuming service sector. Three sectors, consisting of quarter, posting and property industries, saw the new export order index all exceed 50 last month.
The non-manufacturing PMI is based on a survey of about 1,200 firms in 20 industries, including transport, real estate, retailing, catering and software.