
China’s manufacturing growth improves in February
It was supported by increases in output and new orders.
In February, China’s general manufacturing purchasing manager’s index (PMI) improved to 50.8 in February, up from 50.2 in the previous month, according to a Caixin Global report.
This is also the fifth consecutive month China's manufacturing sector logged a PMI above the 50.0 mark.
The report said the growth was supported by increases in output and new orders amidst improved market conditions and purchasing activity.
Additionally, manufacturers supported higher production requirements by increasing their purchasing activity and utilising existing stocks of inputs.
However, Chinese manufacturers once again reported a drop in staffing levels at their plants during the month, extending the current period of decline to six months.
Meanwhile, input price inflation was recorded with firms noting higher prices for copper and a range of chemicals.
Finally, confidence in the outlook improved further with sentiment rising for a second successive month and moving closer to its long-run average.