BEIJING (dpa-AFX) - The manufacturing sector in China moved back into expansion territory in February, the latest survey from Caixin showed on Tuesday with a manufacturing PMI score of 50.4.
That's up from 49.1 and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Supporting the higher headline index reading was a renewed increase in total new business placed with Chinese goods producers. Though modest, the rate of new order growth was the quickest seen for eight months, with a number of firms commenting on a relative improvement in market conditions and firmer customer demand.
The increase in total sales was despite a further drop in new export business, which was often linked to the pandemic and difficulties in shipping items to clients. The improvement in overall demand conditions helped to drive a fresh increase in output in February. Production has now risen in three of the past four months, though the latest expansion was only slight.
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