China’s Services PMI in February 2018
According to data provided by Markit Economics, China’s final Markit services PMI (purchasing managers’ index) showed a weaker rise in February 2018. The metric stood at 54.2 in February as compared to 54.7 in January. It was marginally below the preliminary market estimate of 54.3.
China’s services PMI was affected by the following factors:
- Production output and volume improved at a faster rate in February 2018.
- New business orders showed a softer improvement in February as compared to January.
- Employment in the service sector continued to rise in February 2018.
Performance of ETFs in February 2018
Although China’s manufacturing activity showed a weaker improvement, the services activity remained strong in the economy in February. As we discussed in the above part, strength in services activity shows that the economy’s transformation from a manufacturing hub to a consumption-based economy is on track. The upcoming new projects in various service industries and new marketing strategies are strengthening investors’ confidence in the service sector.
In the next part of this series, we’ll analyze the performance of Indonesia’s manufacturing PMI in February 2018.