BEIJING, Feb 29 Reuters China39;s manufacturing activity likely contracted for a fifth straight month in February, a Reuters poll showed on Thursday, possibly increasing the clamour for further stimulus measures as factory owners struggle for orders both at home and abroad.

The official purchasing managers39; index PMI likely fell to 49.1 in February from January39;s 49.2, according to the median forecast of 33 economists in the poll. The 50point mark separates growth from contraction.

Economists appear in agreement that the economy is still largely struggling for traction despite some signs of green shoots in December39;s trade data and new bank loans hitting an alltime high in January, with the highest forecast a lone 50.0.

China39;s disappointing postCOVID recovery has raised doubts about the foundations of its economic model and stoked expectations policymakers will need to consider reforms, as consumers hold off spending, foreign firms divest, manufacturers struggle for buyers, and local governments contend with huge debt burdens.

Policymakers have pledged to roll out further measures to help shore up growth after the measures implemented since June had only a modest effect, but analysts caution Beijing39;s fiscal capacity is now very limited.

To prop up faltering growth, the People39;s Bank of China cut the reserve requirement ratio RRR for banks by 50 basis points on Feb. 5, the biggest in two years, releasing 1 trillion yuan 139.0 billion in longterm…