Official data: China’s manufacturing activities hit an 11-year high in February
The new order index also kept up with the rising production, growing 3.2 percentage points from the previous month to 54.1 points.
The manufacturing activities in China extended the recovery track in February 2023, growing at a fast pace since April 2012 as the country rebounded from the strict COVID-19-related lockdown.
The official purchasing managers’ index (PMI) stood at 52.6 points – a sharp increase from 50.1 points in January.
The new order index also kept up with the rising production, growing 3.2 percentage points from the previous month to 54.1 points.
Meanwhile, the non-manufacturing index, which consists of service and construction activities rose to the highest levels in two years, reaching 56.3 compared to 54.4 in January.