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Service sector shines in February, while manufacturing moseys along

By Wei Tian and Yu Ran in Shanghai | China Daily | Updated: 2014-03-04 07:58

China's service sector brightened in February, boosted by post-holiday business activity, but the overall economic prospects are still shadowed by a continuing slowdown in the manufacturing sector.

The official non-manufacturing Purchasing Managers' Index, a key indicator of service activities, rose to a three-month high of 55 in February from 53.4 in January, according to a Monday statement from the China Federation of Logistics and Purchasing.

Meanwhile the HSBC manufacturing PMI, also out on Monday, stood at an eight-month low of 48.5, down from 49.5 a month ago, signaling further deceleration in economic growth, while the official figure on Saturday by the China Federation of Logistics and Purchasing was barely above the critical 50mark.

Service sector shines in February, while manufacturing moseys along

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