Service sector shines in February, while manufacturing moseys along

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.