China’s Factory Activity Gets Back to Growth
China’s manufacturing activity climbed back into expansionary territory in February after six straight months of contraction, with supply, demand and employment all picking up as Covid-19 infections subsided. The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) came in at 51.6 in February, up from 49.2 the previous month. A reading below 50 indicates a contraction in activity, while a number above that signals an expansion. [Caixin China General Manufacturing PMI Press Release]
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