BEIJING (dpa-AFX) - China's private sector growth weakened marginally in February with softer growth in services activity, survey data from IHS Markit showed on Tuesday.
The Caixin composite output index fell to 50.7 in February from 50.9 in January. Nonetheless, a reading above 50 indicates expansion in the private sector.
The services Purchasing Managers' Index slid to 51.1 from 53.6 a month ago. The score was forecast to rise moderately to 53.5.
New business increased at a slower pace and service providers signaled the least expansion of new orders since October 2018.
New orders rose for the first time in three months in manufacturing sector, while in composite level, new business expanded slightly faster.
Foreign sales declined marginally, driven by fall at manufacturing companies and the new export order growth eased to a five-month low at services companies.
Services companies staffing level rose for the fifth successive month, as manufacturers continued to scale back their workforce numbers.
Operating expenses of services firms continued to rise in February, meanwhile, average purchasing costs for manufacturers declined for the third straight month, albeit slightly.
Input cost inflation picked up from January's three-year low at composite level.
The level of positive sentiment softened since January, with confidence easing slightly across both the manufacturing and service sectors, IHS Makit said.
Copyright RTT News/dpa-AFX
© 2019 AFX News
