China's manufacturing sector showed signs of robust recovery in February, with the Purchasing Managers' Index (PMI) rising to 50.2. This marks an increase of 1.1 percentage points from the previous month, according to data released by the National Bureau of Statistics (NBS) on Saturday.
Zhao Qinghe, a senior statistician at the NBS, highlighted that the resumption of work and production following the Spring Festival holiday played a crucial role in revitalizing business operations. \"The improvement in economic vitality is a direct result of the enhanced business activities post-holiday,\" Zhao remarked.
Delving deeper into the sub-indices, production surged to 52.5, up by 2.7 percentage points, while new orders climbed to 51.1, an increase of 1.9 percentage points from January. These figures suggest a swift rebound in manufacturing activity and a renewed demand in the market.
Beyond manufacturing, the non-manufacturing PMI also saw growth, reaching 50.4 in February, up by 0.2 percentage points from the previous month. The composite PMI stood at 51.1, an uptick of 1 percentage point, further cementing the positive trend.
In PMI metrics, a reading above 50 signifies expansion, whereas below 50 indicates contraction. February's data reveals that all three major indicators for China are firmly in the expansion zone, underscoring a healthy and growing economy.
Reference(s):
cgtn.com
