China's manufacturing sector is showing positive signs of growth as the Purchasing Managers' Index (PMI) climbed to 50.2 in February, up by 1.1 percentage points from the previous month, according to data from the National Bureau of Statistics (NBS).
Zhao Qinghe, a senior statistician at the NBS, commented that the resumption of work and production across enterprises following the Spring Festival holiday has revitalized business operations and boosted economic vitality.
The sub-indices for production and new orders also saw significant increases, rising to 52.5 and 51.1 respectively, up by 2.7 and 1.9 percentage points from January. Zhao noted that these numbers reflect a rapid recovery in manufacturing activity and a rebound in market demand after the Spring Festival.
In addition to the manufacturing PMI, the non-manufacturing PMI in February stood at 50.4, an increase of 0.2 percentage points from the previous month, while the composite PMI reached 51.1, up by 1 percentage point.
A PMI reading above 50 indicates expansion, and the February data confirms that China's key economic indicators are all in the expansionary range, highlighting the country's steady economic growth.
Reference(s):
cgtn.com
