SHANGHAI, Mar 2 (SMM) - Production in the construction industry continued to decline in January. Since mid-January, affected by the CNY holiday, most of the construction projects have been halted. Only several construction sites remained in production until January 20. While management personnel mostly returned to work immediately following CNY holidays, not all the workers returned to the construction sites until after the Lantern Festival.
Orders fell slightly month-on-month in January and picked up gradually in February.
Most companies expect the real estate market to improve in the second half of the year in the wake of policy stimulus.
The PMI for the construction sector stood at 45.19 in January, up 1.87 points on a monthly basis and up 1.67 points on a yearly basis. Seasonally adjusted, the composite index stood at 51.11, up 4.78 points month on month and 1.34 points year on year.
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