China's factory activity slumps more than expected in February as holiday disrupts production
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China's factory activity faltered in February as manufacturers paused production and cargo shipment to celebrate an extended holiday.
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China's factory activity faltered in February as manufacturers paused production and cargo shipment to celebrate an extended holiday, an official survey showed on Wednesday. The official manufacturing purchasing managers index fell to 49 in February, according to the National Bureau of Statistics, missing economists' forecast for 49.1. A reading below 50 indicates contraction, while levels above that threshold signal expansion. That marks a second straight month of contraction. The official PMI had come in at 49.3 in January. The 9-day Lunar New Year holiday saw a pick up in travel, entertainment activities and duty-free shopping, according to preliminary official figures. This year's holiday, that ran from Feb.15 to Feb. 23, was the longest on record as Chinese authorities sought to boost consumer spending. The world's second largest economy has struggled to shake off deflationary pressure since the end of the pandemic, weighed down by a prolonged property downturn and weak job market prospects. Beijing is set to announce a series of economic targets at its parliamentary meeting Thursday. Economists largely expected the policymakers to lower the growth target for this year to a range of 4.5% to 5% down from "around 5%" targeted for the past three years. This is a developing story. Please refresh for updates. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Advertise With Us Please Contact Us Ad Choices Privacy Policy Your Privacy Choices CA Notice Terms of Service © 2026 Versant Media, LLC. All Rights Reserved. ...
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