The purchasing managers' index (PMI) for the manufacturing sector in the Chinese mainland reached 50.2 in February, marking an increase of 1.1 percentage points from the previous month. This rise signifies a return to the expansion zone, as a PMI reading above 50 indicates growth.
Zhao Qinghe, a statistician at the National Bureau of Statistics (NBS), noted that the February PMI data was influenced by the resumption of production activity following the Spring Festival holiday.
Further details from the NBS revealed that the sub-indices for production and new orders were recorded at 52.5 and 51.1, respectively. Additionally, the equipment manufacturing sector's PMI stood at 50.8, while the high-tech manufacturing sector reached 50.9.
Reference(s):
cgtn.com
