Retail in Asia

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China’s consumption dip hurts PMI

China’s non-manufacturing activities weakened in February for the first time in three months as retail and catering consumption declined notably after the Spring Festival period.

The official non-manufacturing Purchasing Managers Index, an indicator of service industry vitality, fell to 48.4 last month from January’s 52.9, the China Federation of Logistics and Purchasing said in a statement released on Saturday.

A reading above 50 signals expansion and one below 50 indicates contraction.

(Source: Shanghai Daily)