New Economy Index Hits Four-Month Low in February
A private index that aims to gauge the size and changes in China’s new economy using big data edged further down in February, as its technology input suffered its first decline since November.
The Mastercard Caixin BBD China New Economy Index (NEI) fell to 29.8 in February from 31.3 the previous month, marking its lowest level since October. The latest reading showed that new economy industries accounted for 29.8% of total economic inputs used to make goods and services in February, continuing a downward trend for the second straight month. The index measures labor, capital and technology inputs in 10 emerging industries relative to those used by all industries.
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